Major Fib level acted as good resistance 2 days back.
As far back as the given chart goes, the recent highs are in uncharted waters, however, I believe the major Fib level will hold (*but it could be tested again either forming a double top or breaking through. IMHO, TA may favour a double top but current fundamentals may push it through the top to form new highs).
Expecting a conservative retrace to the 7.152 zone. Current price broke out of a support zone. The idea is to wait for price to retrace and take a short off a PA on the previous resistance sand TP at the 7.152 zone.
SL above previous all time high. R:R is 1:1.
2 other supports (blue levels/zones) has to be broken in the middle for the above to happen. Look out for price rejection of these levels in either direction.
Separate trading plans could be made off these blue levels with PA on the LTF.
As far back as the given chart goes, the recent highs are in uncharted waters, however, I believe the major Fib level will hold (*but it could be tested again either forming a double top or breaking through. IMHO, TA may favour a double top but current fundamentals may push it through the top to form new highs).
Expecting a conservative retrace to the 7.152 zone. Current price broke out of a support zone. The idea is to wait for price to retrace and take a short off a PA on the previous resistance sand TP at the 7.152 zone.
SL above previous all time high. R:R is 1:1.
2 other supports (blue levels/zones) has to be broken in the middle for the above to happen. Look out for price rejection of these levels in either direction.
Separate trading plans could be made off these blue levels with PA on the LTF.
Order cancelled:
No good opportunity was presented for the trading plan. Plan cancelled.