Not a fan of how this pair moves on the 1h timeframes, but on the 4h can make some awesome and fluid moves. This is something I spotted over the weekend and I waited to see what price would do during the London session of Monday morning. This allows price to get back into its movements and help us understand direction a little better. Especially on the 4h timeframe we can have a little more room for error when it comes to placing these trades on Sunday's. Usually I try to stick to only trading the NY sessions to help with over trading and allowing me to manage the trades throughout the day. But this set up met all the confirmations and I do not believe it was rushed at all.
-Price did drop
below the 78.6% level but did not close beneath the 0, which makes this still valid.
-We have confluence with the 4h trend line