UJ has been making bullish moves (HH's & HL's) for the last few weeks. With this bearish retrace we are at a 100% retrace on the H4 and a 38.2 on the D1......BUT just because the market makes a move towards a fibonacci PRZ doesn't mean it's a trade opportunity. That being said we are seeing H1 structure break bullish in confluence with our H4/ D1 up trending market. the main things im waiting to see further before entering UJ would be another H1 structure break to the upside, and intern HOPEFULLY see an H8 bullish engulfing. being a 100% retrace I would be targeting a 1 to 1 move for a TP. At the price of 111.300. If these market conditions are met I will enter the trade and post an updated published idea.
Side note, waiting to see how this Bearish ENG on the weekly plays out. if H1 continues to make higher highs and higher lows and in turn H4 structure breaks bullish It won't effect my market sentiment.
Side note, waiting to see how this Bearish ENG on the weekly plays out. if H1 continues to make higher highs and higher lows and in turn H4 structure breaks bullish It won't effect my market sentiment.