How do we trade these corrections?
It has pierced the level so we are looking at price to at least go to the . Aggressive entry would be to ladder (buy) into a position at the 50% 61.8 and 78.6% levels.
A conservative approach would be to wait for confirmation of a reversal. The first sign is a small impulse wave in the opposite direction of the correction. Another sign is a strong break of channel with good . Another possible sign is a formation.
Each of these signs could be used as a reason to closely watch a pair, or could be used to enter into a trade.