I've had my eyes on this pair for a while and have been waiting to see what happens at the 61.8 and 50 fib levels of the previously extended correction. Now that we've seen a bounce off the 50%, I expect a retracement to the lower trendline as illustrated. I'll be expecting to take a long there as that'll give a better entry for a good risk-reward ratio.
And even if price doesn't play to my tune it wouldn't be the end of the world. :)
And even if price doesn't play to my tune it wouldn't be the end of the world. :)
Trade closed manually:
already closed at .382 fib and now the price has broken through the lower trendline. watching for short opportunities on the retest.