Following the breakout of the 4HR descending trendline were looking for a retracement before a bullish continuation.
-The 50% FIB lines up well with previous structure
- Possibility of the 50EMA acting as dynamic support following the retracement back to the 1.6700 region.
- Looking to go long on this pair if provided with supporting evidence at lower time frames.
(Price needs to break 117.140 support)
Any feedback is appreciated!!
-The 50% FIB lines up well with previous structure
- Possibility of the 50EMA acting as dynamic support following the retracement back to the 1.6700 region.
- Looking to go long on this pair if provided with supporting evidence at lower time frames.
(Price needs to break 117.140 support)
Any feedback is appreciated!!
Comment:
Caught a nice short on this back towards the 116.700 region 26 pips running.