Long positions.
Price did drop a substantial amount of pips; however, it did not break support (yellow box). I see consolidation on the smaller timeframes before the drop occurred. Price passed the 38.2%, so we wait for the next PRZ level to hit and establish a new, higher low.
Price did drop a substantial amount of pips; however, it did not break support (yellow box). I see consolidation on the smaller timeframes before the drop occurred. Price passed the 38.2%, so we wait for the next PRZ level to hit and establish a new, higher low.