From the open to Sydney session to the close of New York we saw a large downward movement. The movement was strong and convincing that it would breach through the support level. However within the last hours of London and New York we can see the strength of this support level. The strong downward movement in now a bullish candle showing a large rejection wick. A good sign for buyers to take positions and ride price upward.
Trade active:
Opened my buy limit position in accordance with price points plotted on my chart.
Comment:
As expected, price retraced back down hitting the entry point, right before heading back into bullish motion.