I'd place a couple of entries here, looking to capture the downside move.
It's possible, once the 2nd order is triggered, that we get a 55% chance of hitting 22.03 in the coming months. Time expiration for the decline would be by March 21st, 2016, but it can reach this abysmal target sooner than that as well, as long as it trends down below the blue line on chart.
For more information and insights into managing this position, scaling in, and understanding the logic behind the technical setups contact me via pm. I'm currently hosting a skype group, where I share trade setups and also provide traders with training, as well as 2 private webinars per week, and also giving tutoring via skype calls, on a one on one basis.
Good luck if you take this trade.
Time at Mode FX
I agree on the fundamentals, I'm inclined to think we will see a correction in the equities, as well as this slide down in oil.
Here's the more recent swing activity analyzed:
I replied this in the Key Hidden Levels chatroom, on the topic of the price action: "it's a short squeeze
the failure to get follow through
tells me that
weekly engulfed by sellers
daily range exp eaten alive
it's really, really bearish on a bar by bar multi timeframe way"