Now the trend has more legs with the Monthly Range continuing underneath in this new month.
The Minor Stack should continue to provide support as the market approaches the swing high.
Go long if the price trades through 0.7303 and place the stop loss at 0.7177 and a profit target at 0.7478.
When the price moves this swiftly and with enough distance in the price, this will typically void the setup. This is because, either the price has gone to the opposite side of the Pivots or because of the magnitude of the move, new Pivots have formed in the next trading session.
This underscores why I wait for a confirmation of strength or weakness before entering the trades.