A very simple long trade. Having watched this pair behave for the majority of the day, it has a very bullish tone to it and has recovered from all dips during the day, that is the sign of bullish momentum. We are now in a previous resistance area which now has confluence with the .50% fib retrace. In addition to that, it also appears we have a simple AB-CD pattern forming. Confluence can also be found in that the completion of the D leg, finds price hitting the 1.618% fib ext.
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Pip-thief
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This is the link to the second chart for this trade :
Pip-thief
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This trade has slowly trickled lower over the next day from publication. Price has currently found support on the 618 retracement and I have entered a second long trade @ 2.3798 I will complete a second chart for this