Correctional decline

09 March 2016, EUR/USD

The considered pair began a corrective decline which probably is represented by the second wave of the emerging upward impulse.

Decline can be quite deep and in this case the price will decrease by more than 50 percent from the previous growth.

Thus, it is likely that my trade will be stopped by the break-even stop loss, but it does not make sense to carry it to other day.

In this case, after the completion of this corrective decline, I will open a new Buy trade.

Vasiliy Lukin
FreshForex Analyst
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