I am looking at a bit more of a push to the upside before a fib retracement down to maybe as far at the 0.6800 level - You should enter short once a few candles downtrend has started, my short entry lev is just an estimate.
Look at moment levels before exiting short trade once you are around the TP level.
For the long trade while I have set that entry-level you may choose to enter at a better price level but do not enter until the price has consolidated at the fib level for a bit then go back up so you know that it won't continue to drop further.
I have set a stop for the length just below the key lev but you could really increase that a bit, especially depending on entry levels.
The 4 purple lines are price targets to look for in case you don't feel that it will hit all the way to TP or you don't want to wait.
*With the US-China trade war and the volatile of Trump I do expect the dollar to get weaker short term but only enough for this trade to work!
Look at moment levels before exiting short trade once you are around the TP level.
For the long trade while I have set that entry-level you may choose to enter at a better price level but do not enter until the price has consolidated at the fib level for a bit then go back up so you know that it won't continue to drop further.
I have set a stop for the length just below the key lev but you could really increase that a bit, especially depending on entry levels.
The 4 purple lines are price targets to look for in case you don't feel that it will hit all the way to TP or you don't want to wait.
*With the US-China trade war and the volatile of Trump I do expect the dollar to get weaker short term but only enough for this trade to work!
Comment:
Short SL was taken but don't worry as I am confident with the long trade and we are still waiting for the fib retracement making a new short trade also!