Fib1 shows the longs are holding. The long was bought at the 50% line with a stoploss under the 61% line. Only a break of the dotted red line signals a look to get short after a pullback higher. The target of the fib1 long is the -0.236 up at 1.41. If price would go down the 50% line of fib1 again I would look to get in a scalp long and hold until 1.41.
Fib2 shows the latest long fib which either just did a dirty hold or failed, since price moved under the 61% line.
While price is under the wick of the daily pinbar, summer scalp shorts are on.
The middle of the chart shows a short fib which failed to make it to targets and also fully broke in the last wave on the chart. So there are no daily shorts holding at all... except for speculative fib 3.
Since we seem to be in a range, price may bounce around for a while. A move into the 1.32 zone could be short scalped into and held until its -0.236 target which is the bigger 50% long level.
The blue boxes show somewhat similar price action, the greenlines show similar size of move and angle. The 200MA shows its slighty upward trajectory.
Go easy on the summer trading, euro price is a bitch at the moment.
Fib2 shows the latest long fib which either just did a dirty hold or failed, since price moved under the 61% line.
While price is under the wick of the daily pinbar, summer scalp shorts are on.
The middle of the chart shows a short fib which failed to make it to targets and also fully broke in the last wave on the chart. So there are no daily shorts holding at all... except for speculative fib 3.
Since we seem to be in a range, price may bounce around for a while. A move into the 1.32 zone could be short scalped into and held until its -0.236 target which is the bigger 50% long level.
The blue boxes show somewhat similar price action, the greenlines show similar size of move and angle. The 200MA shows its slighty upward trajectory.
Go easy on the summer trading, euro price is a bitch at the moment.