We also have a trendline/channel which could limit the 'up' move towards the .50 retracement of the last move down so I have already entered short from where we hit the to make sure I don't miss it, if it reverses sooner (as per the trades on the chart).
It might still be possible that we complete the full .50 retracement and briefly break through the but I'm hoping this whole structure is strong enough to keep us on track for the further move/bullish pattern.
My SL is above the . of the last down move and above the 2.0300 level, that should be safe enough I hope... Trailing it down asap , before reaching TP1.
I still had sell orders ready at 2.0175 from last week, which I'm leaving open to add to this short. I altered lot size though to keep total risk exceptable.
- TP1: re-test of lows
- TP2: 1.27 extension and completion of 3rd move/bullish
- TP3: Possible completion of a at lower
POSSIBLE FURTHER OPPORTUNITIES:
- Going long at completion of the
- Going long from the bulish bat or trying to catch a bounce from the lower (in case it holds)
That is, if we ever get there of course!