This is the March 2016 contract month and we can see a pretty choppy rally with overlapping waves. This pattern has pushed out of the trend lines, but there is the chance this may also be an ending diagonal. This still could mean another three wave counter rally as we would need a 3 wave pattern to push to new lows.
Even this decline, inside my trend lines seem very diagonal in nature, which can produce violent reversals. Overall, I can still keep my now ending diagonal alive, but I am slowly running out of room to play with. I only have about 766 points left to travel before my wave count is complete nonsense and it
heads to the electronic trash can.
As I mentioned there are only 4 months that these contracts are usually traded in so when the activity in June is more than in March then this would be the best time to make a switch. The real contract months also fit better with any Forex trading patterns as well.