The weekly bar 11-11-16 showed indecision. (Spinning Top) This monthly chart
suggests staying short below 13 m.a. and channel. X may have upside see shorter time frame chart
If monthly candle close breaks above 13 m.a. then wait and ENTER SHORT X to C {B} target 50's below wave A.
Stop placed to your risk management +- 70 pips above 13 m.a.
OR ENTER LONG to 34 m.a. stop +-50 pips below 13 m.a.
Trade time 6 months+ short term to 2 years from X
Y to X needs to form ABC pattern. Wave "A" of X may be finished, possibly X is done if channel holds again?
suggests staying short below 13 m.a. and channel. X may have upside see shorter time frame chart
If monthly candle close breaks above 13 m.a. then wait and ENTER SHORT X to C {B} target 50's below wave A.
Stop placed to your risk management +- 70 pips above 13 m.a.
OR ENTER LONG to 34 m.a. stop +-50 pips below 13 m.a.
Trade time 6 months+ short term to 2 years from X
Y to X needs to form ABC pattern. Wave "A" of X may be finished, possibly X is done if channel holds again?