Possibly short term long if low 0.85XX region holds. Note the green trend line and support region. Target 1: Previous high of 0.863X/4X Target 2: 0.866X region (161.8 fib extension) SL should be placed below the support region.
Note the word 'short term', I'm still looking to short the 0.866X region if we ever get up there.
Comments
ForexWeeklyAnalysis
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For people who don't have a position yet, I expect price to consolidate down here for a bit, so you may get another chance to get in soon.. in the 0.851X/0X region
ForexWeeklyAnalysis
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Update: I'm still holding my buy from 0.8515 but based on how Friday closed, it doesn't look so good for bulls right now...
ForexWeeklyAnalysis
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Decided to get out of my long for 25 pips, wary of the following scenario developing. Note the similarities between the left and right boxes, only difference being is the right box is upside down....
ForexWeeklyAnalysis
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Got a nice hourly pinbar, I'll load some more longs on a retrace of the wick.
ForexWeeklyAnalysis
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Daily chart also has a pinbar as well.
ForexWeeklyAnalysis
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I closed my short from 0.8600 at 0.8535 and just entered long at 0.8535.
ForexWeeklyAnalysis
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Update, I added another long at 0.8515 and closed the long at 0.8535 for a loss of 0.6 pips.