The area is somewhat confusing to me. The high at 0615 appears to be forming a bullish wedge, and distributing after testing what the previous high lost. I would have liked to see distribution up to the 0615, which we did not. I imagine price will stay sideways until NFP numbers are released. If my reasoning is correct, price will begin it's decent back to leg starts at 0410ish. If I am correct in that progression needs to take out the old swing high, we go to 0760 and eventually 0800. Both of those areas are the most ideal shorts. Longs should come from low 0400s. I marked levels of interest.
All three long targets were reached from 0360 lows:
All three long targets were reached from 0360 lows:
Comment:
Looks like everything going to plan.
