If the last daily candle remains like this the Bears will move in sending price down to a deeper retracement level of 0618 as suggested on my previous plan. We may have completed the first swing of a two-step pattern - this is common in FX when the eager Bulls and amateurs buy on a shallow retracement. The 2nd leg down may be show us symmetry to the first leg ie. % decrease in price & the days this took to occur. So this could give us a great trade set-up to enter for a swing trade to our profit zone. At the 3400 level, we have the 0618 of the overall rise, previous support & order flow, 127% PT of the first correction after the swing, a trendline - confluence. A terrific set-up.
My plan is to watch in 4 days time and see what happens on the 15min chart - if a doji candle pattern appears here I'm in. I will set a limit order as well.
My plan is to watch in 4 days time and see what happens on the 15min chart - if a doji candle pattern appears here I'm in. I will set a limit order as well.