comments on the chart
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price broke almost 200 pips so far. Altogether a good idea
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some retracement is expected. So stops have been tightened.
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Trade closed after price retraced to tightened stops. Price is now retracing hard.
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Price has put in a hammer candle on the daily chart along with bullish divergence so the strength of the downmove is at best slowing or somewhat reversing. If the low of the hammer candle is taken out it is game on again
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we have a breakdown from the structure so the downside idea is still on
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Price is still moving sideways after the breakdown. More downside expected. Would like to see some quick downside price action otherwise the structure and what it connotes could be invalidated