2016Sep10 I expect the price to drop to around the $1.1200 support level and then hammer it until it breaks. The retracement will likely occur at around $1.1169.
The price has already retraced to the 38.20% fib level after last week's 75 pip drop.
I would wait for a possible gap up and then enter the short trade, with a stop at 1.1245, once the window has just about closed (or shortly thereafter).
The price has already retraced to the 38.20% fib level after last week's 75 pip drop.
I would wait for a possible gap up and then enter the short trade, with a stop at 1.1245, once the window has just about closed (or shortly thereafter).
Comment:
Sorry I meant a stop at 1.1255.
Comment:
Well the pop-up to 1.1263 was unfortunate, but for anyone watching at that time the pop-up formed a doji on the 60min chart that was then followed by an engulfing bearish candle.
I entered another short trade with a stop at 1.1269 and a target of 1.1170.
I entered another short trade with a stop at 1.1269 and a target of 1.1170.