I see an ABCD being formed in the middle of a long term drowntrend. We are currently making C - wave 1 is done; more 4 to come. If C repets A as a classic pattern, C should be finished at 1900 area, but I keep in mind it could be an ABCD extension and C could be finished at 1920 area - with a perfect touch at the red trendline. Once C is complete, for D I expect a huge down under or around A (1763).
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I believe C is still forming
wave 1 was 1822 - 1875 wave 2 was 1875 - 1850 wave 3 will be 1850 - ? (I would go for something as 1880 - 1890) wave 4 ? wave 5 ?
As long price wont drop under 1843 - possible hunting stop loss, I will be still following this idea
Trade active
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not surprised the drop went under 1843 - hunting all buyer stop loss at 1837. I am still long - but once 1843 is broken I will be extra careful with the possibility of another drop.
Trade closed manually
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I decided to close this trade at 1849 I still see a recovering chance for bull - if 4h candle closes back inside de chanel in the next hour - 10 pips up . But after the break of 1943 and strong bear pressure, I prefer to take my profits out