Last month on the daily chart gap created in June 2015 was filled (about 180 pips). Continuation or runaway gap was created during bullish trend and pointed for its continuation. It was perfect signal for new power of bulls dominating on the market.
Theory about runaway gaps assumes that move in the direction of trend after gap is equal at least to range before it happened. In this case earlier move was about 2,370 pips, and gains after gap reached the top at 3,460 pips.
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Since second half of August there was correction move which is seen in ABCD pattern where AB=CD. If we should be witnesses of bullish trend coming back, current levels are great place for its beginning.
