Sell retracement to last lows before breakout of the 23rd.
Confluence with 50% Fib in the middle of zone and just above 61 of that move down
50EMA falls inside trade zone as well
Note the highlight range is exactly a 50% retracement of the larger swing, potentially offering a continuation now down to the 127.1 extension of that fib which confluences with 112 handle.
TP is 217.1 of this inner move in case we get a big overnight (Asian) move, re-evaluate TP based on PA if the trade fills over night, possibly reaching for 112 if USD looks weak or the low of 112.5 if not
Confluence with 50% Fib in the middle of zone and just above 61 of that move down
50EMA falls inside trade zone as well
Note the highlight range is exactly a 50% retracement of the larger swing, potentially offering a continuation now down to the 127.1 extension of that fib which confluences with 112 handle.
TP is 217.1 of this inner move in case we get a big overnight (Asian) move, re-evaluate TP based on PA if the trade fills over night, possibly reaching for 112 if USD looks weak or the low of 112.5 if not
Order cancelled:
Missed our entry, market never retraced.
Note the anticipation however was correct.
Note the anticipation however was correct.