Having just reached my target of the 4H high, price has started to retrace and could yet give more opportunities to go long if price so wishes to continue long. I have highlighted a specific zone were I expect price to bounce off and continue long. This must not be the case as price could easily break my zone and then continue long but I personally will not be looking for longs if price breaks this zone, instead I would step back and watch what price wants to do if that is to still continue long or perhaps break lower and usher in a downtrend.
Trade closed: target reached:
Price delivered perfectly and I was able to get positioned in a 10RR trade.