The move down is likely over, and at least we will get a correction 38-50%
On a daily frame I would consider two options:
1. Bearish scenario, driven by the Cable itself, where we may have an ABC and price continuing the trend down to test the daily extremes, after a reasonable correction
2. Bullish scenario - implying a more complex structure - a double zigzag on daily, where we have a wave A (three-wave move up, followed by a running flat - in orange). According to this scenario I would expect a similar move to the upside, as the first bullish move
On a daily frame I would consider two options:
1. Bearish scenario, driven by the Cable itself, where we may have an ABC and price continuing the trend down to test the daily extremes, after a reasonable correction
2. Bullish scenario - implying a more complex structure - a double zigzag on daily, where we have a wave A (three-wave move up, followed by a running flat - in orange). According to this scenario I would expect a similar move to the upside, as the first bullish move
