Seems like 1.5573 is holding well. I am bullish as long as it is holding. First level of resistance is 1.585 and subsequently 1.602.
Comment:
Price did not go down as expected to trigger my limit. Instead price went up to the first level of resistance at 1.585. Got rejected immediately. Expecting the current trench to hold and price to retest 1.585 again.
Comment:
Learning point to note: Price can go up 100-200 pips and still able to return back to whip people out. So always stick to your plans. I did not enter this trade though as I deleted my limit order thinking that I was too late which is fortunate because I might get stopped out.
Price is now at support. Shall analyse again after the day's candle is closed.
Price is now at support. Shall analyse again after the day's candle is closed.