Short back to trend line?

This has just completed a C wave of a flat correction. The correction doesn't look over to me. I would still like to see it move back down toward the trend line before we see any further advances. My bias is a short in the direction of the green arrow - wait for the turn and short entry set up before risking your money.

Check out my accurate March/April daily forecast for this pair (click the image to Link to the dynamic chart)

Of course it could break out here and end the correction in which case I'll be looking for a long trade. Remember we don't pick turning points we wait for the structure to tell us what is going to happen next.

I'll update my analysis as price develops so remember to follow to receive them. You can also follow updates via twitter (link from my TV profile)

Always wait for an entry set up before risking your money.

This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome

Good luck Steve

Komen:

You know I had a funny feeling about this yesterday which is why I said it could breakout long and then I would be looking for a long entry. We've had a very nice break up so now we look for the correction and long entry set up. When price does the opposite of a forecast it gives me a great opportunity to emphasise the reason we do not enter at a particular price or try to predict a turning point. We wait for the price to set up in the right configuration before opening a trade. If it doesn't meet all our rules we leave it alone. You cannot lose money if you're not in the trade and the first rule of trading is "Protect your capital"

Komen:

This has been on a pretty wild ride recently - here's how I see it now. It's seems to be in an upward channel but still looks like it needs to correct both on the 1H time frame and the daily time frame. I'll post a new forecast chart for this pair as this chart has outlived it's usefulness.

Komen:

This has been very messy and difficult to trade. It looks like it@s moving to the bottom of the channel. I'll not be trading this until it settles down. This chart is finish for me. I'll post another chart next week