EURUSD
Market structure broke quite a while back, which is now forming LLs and LHs.
On the H4 I have drawn a small little Fib which captures what looks like a retracement...
hoping to ride this all the way down and later on to look for more opportunities.
However, if this does break the above the drawn Fib, we can expect a retest on that D level (1.21610) and ride it up to the next H4 level (1.22180).
Comment:
Well that didn't go as planned but there is some rejections there at the peak and waiting for a break and retest to the downside, if not the to the upside...
Trade closed: target reached:
Although it hit my first SL, I found a re-entry and currently securing about 50 pips running...initial idea was correct but was oblivious to some levels but that is how we learn.