Members of my site know this already and I have been preparing them for this to happen for awhile now. There is a POSSIBLE H&S pattern that is forming here. But it won't become validated for awhile, IMO. That does not mean not to trade it! This pair tends to make LARGE moves within large patterns. Case in point:
My members were alerted to SELL this pair back on 9/15. Six days ago. At that time, I got the signal to SELL that I was looking for partly because I was expecting the right shoulder to form on this reverse H&S. From that point we sold to now, it has already moved over +550 pips! That is over +2000 pips profit for us on this trade following my trading method! So now that it has dropped here, here is a preview of what I am expecting to happen. This next phase should be a corrective one with a complex wave (b) forming. No idea in what for will this wave (b) take yet as there is no indications yet. But we should now see prices wander in a large sideways pattern for awhile. But there are A LOT of pips possible to be made during this correction.....if you know what to look for! My members will. And we'll be adding even more pips to our already large profits this year! We've been absolutely KILLING this pair so far! So when I tell you what is to happen here, it is with some order of confidence that I am correct. This is the proper way to use wave counting. When you get the count right, you can just ride it for all it's worth!