move to the downside. The pair has visited, again, a previous area of support and resistance
. On the previous occasions when it did so, price bounced back upwards. If this behaviour repeats itself, then we might end up with this bullish
progression. There is also a confluence confirmation from our Fibonacci showing that price as made a deep retracement to Fib 23.6, a traditional turn around Fib level. I am now waiting for price to give a high upon which I can place my trend line
. If price closes above the trend line
without taking out the low giving that high, then that will be my valid entry. STOP will be at the low of the u turn. Possible TARGETS are marked at Fib 100, Fib 127.2 and Fib 138.2. I hope this little helps. Keep trading traders.