Price bounce from mid trading range and channel zone heading towards 1.618 extension of lowest low and following higher high.
1.618 extension is also upper resistance.
1.272 extension turned into support from previous resistance
You can take the buy and set your target to that area or wait for price to reach that point and watch for potential sell reversal set-up.
Higher probability of the big boys pushing price to that area for that exact reason.
Negative correlation with EURUSD as it heads down - link to related EURUSD idea below.
Risk/Reward 1:1.5
1.618 extension is also upper resistance.
1.272 extension turned into support from previous resistance
You can take the buy and set your target to that area or wait for price to reach that point and watch for potential sell reversal set-up.
Higher probability of the big boys pushing price to that area for that exact reason.
Negative correlation with EURUSD as it heads down - link to related EURUSD idea below.
Risk/Reward 1:1.5
Trade closed: target reached
