It's been awhile since a correction in this pair but now it's started, it's time to look at fib retracement levels. There is strong support and the 23.6% Fib retracement slightly below my entry level at 192.50 and this seems an excellent place to buy to push the pair back up to recent highs. I have a wide stop and this trade will be a starter trade, so once in profit I will add to this position.
Buy Limit : 192.50 before 23.6% Fib retracement
Stop : 190.56
Profit : 195.40 before recent highs
Risk 1 : 1.5 / Stop is 194 pips
Buy Limit : 192.50 before 23.6% Fib retracement
Stop : 190.56
Profit : 195.40 before recent highs
Risk 1 : 1.5 / Stop is 194 pips
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.