Looking at this pair it is reaching a sensitive region we could either see a bounce, break or go into consolidation, we shall be patient before acting upon this trade and let Price Action show us what it wants to do, (NO FANCY SH*T, BASIC PRICE ACTION!)
Grab the cookie jar. Pullback to 1504-1506, looking for deceleration within this region, ideal AOI would be 1506 with 38.2 fib rejection(s). Looking to take that to 1497, retest 1500 if we get a retest, just another option for added position. Otherwise we just turn the furnace on now & melt (struggling for body closure above 1H 50ema), but favoring 1506 AOI to...
We can see G/U reached an important monthly zone at 1.30, shorted at 1.29 something (look at the chart) and expecting it to go down at least to the weekly level, if this got broken probably expecting it to go to the montly area at 1.25.
These are the setups that im watching
- All of them have the same criteria lie always , its nothing out of this world just following simple rules and let the market play out by itself !
