2. yes we have been in pullback - retracement to the 61.8 fib level
3. outside of channel
4. waiting for price at this level to provide a bullish signal, if you use a broker that has the candles close at new york close then it did print a reversal pin bar from fridays close.
5. as always - wait for a signal don't just jump in - I have pending order long at the 1.01443 area which is 50% of fridays pin bar - risk would be about 35 pips reward potential could be 3 or 4 times the risk
these are the trades that make trading work proper risk reward even if I only win 50% of the time the pips still roll in.