Okay lets try another long from the next 4h support level 4h support 1 zone. Price did not quite touch that zone and have already bounced. If the price touches that zone, it will provide a good entry for that long towards 1.084 level.
Trade closed manually:
Closing this trade with some profit without waiting for the target posted initially to be reached. This support initially provided a good bounce of 3-4% from entry point but could not follow through. I do not like the revisit of the support and that support is also a 4h support and not that important when the downward momentum is so strong. I would wait for the next daily support level of 0.875 to consider any long. That area can provide a better bounce than current 4h support.
Comment:
This is how I imagined the price action. However, this S2 step went below the expectation and exposed the weakness for the long side of the trade. It may move again up by sweeping the current low but that does not qualify for my long criteria.
