This setup would present several scenarios depending on how price action pushes to the downside - the first one, if price holds around 124.400/500 area which is in line with fib level 23.60%, it would provide a nice buy signal of 56 pips SL and profit target of 284 pips (RRR 1:8).
Secondly, if price comes back to 123.100/200 area which perfectly sits on fib level 38.20% - I would expect to enter a swing buy opportunity with 59 pips SL and 423 pips profit (RRR 1:5).
It is also possible that price does not come back to any of those levels and continue its rally depending how it stays above the purple trendline..
Secondly, if price comes back to 123.100/200 area which perfectly sits on fib level 38.20% - I would expect to enter a swing buy opportunity with 59 pips SL and 423 pips profit (RRR 1:5).
It is also possible that price does not come back to any of those levels and continue its rally depending how it stays above the purple trendline..