Based on my impression we will short till 8700 (give or take 20 pips). After that an upward trend is started because the daily supportline will be tested for the second time. Normally this will give a bounce to the 4H resistance line. This will generate a 3th hit on the resistance line which indicates we will look for lower lows.
So:
First stop: 8.700 Estimated Time: 1 Day
Pump till 8.870 (+1.90%) estimated time: 3 days
Drop from 8.870 till 8.495 (-4%) estimated time: 6 days
Let's see how my first chart works out.
So:
First stop: 8.700 Estimated Time: 1 Day
Pump till 8.870 (+1.90%) estimated time: 3 days
Drop from 8.870 till 8.495 (-4%) estimated time: 6 days
Let's see how my first chart works out.