This is a short term trade. We are trading the rebound from our weekly wave trade in blue (watch the Week time frame), but inside the gross pink channel in a correction mode. The RSI is showing us a descending wedge, and right now we´re trading the bearish correction movemenvet forming 4 to 5 wave probably ready for big rebound rallie ... but not yet, hold your horses Bob. Also see how the pike movement has been repeated 3 times. Is this also a Three Falling Peaks pattern (Pg 684)? This trade is also confirmed with the DXY index market action for tomorrow´s forecast. Lets see. The risk reward ratio for this one is 2.04 with and EP at 1279.67 TP 1270.670 SL 1281.37
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