Price is currently at a 0.618 fib retracement level, which may be a (B) of an ABC Retracement. If it is the case, Now I expect a bounce offf this trend line and towards C. I would like to see some bullish momentum on the 4H chart before entering the trade.
There is an inside bar formation on the 4H chart, so I will wait for a break and close above that level in order to enter long.
Trade finally entered at 1.43672
Stop loss finally stablished at 1.42263