Hi all,
Yesterday price hit the 0.618 on the fib of the last move. The purple boxes represent areas where price may become stuck as detailed yesterday price rejected that area nicely. Now I am waiting for price to hit the new hourly zones as market on the chart at the 0.318 - 0.5 on the fibs respectively. Anything past the 0.618 level and we wait for price higher to be tested.
I will be waiting for an hourly candle confirmation to show sellers coming back into the market and depending where the level is created that will create a cheap stoploss for us. If this happens today I will post again with an additional short. Yesterdays position is still currently 50 pips in profit.
As dollar continues to decline we may see this pair fall much further than our current price. I will be posting daily and following this market.
Please follow for updates and watch this space!
Comment and lets talk!
Yesterday price hit the 0.618 on the fib of the last move. The purple boxes represent areas where price may become stuck as detailed yesterday price rejected that area nicely. Now I am waiting for price to hit the new hourly zones as market on the chart at the 0.318 - 0.5 on the fibs respectively. Anything past the 0.618 level and we wait for price higher to be tested.
I will be waiting for an hourly candle confirmation to show sellers coming back into the market and depending where the level is created that will create a cheap stoploss for us. If this happens today I will post again with an additional short. Yesterdays position is still currently 50 pips in profit.
As dollar continues to decline we may see this pair fall much further than our current price. I will be posting daily and following this market.
Please follow for updates and watch this space!
Comment and lets talk!
