Little free setup I am currently in. Reason being, we have a nice bearish run on the 4hr showing us price is overall going down. We have bounced off a daily support level currently so I am conscious of the fact the trade me see a reversal again at around the 109.229 area so I will be happy to take most my profit there and let a small bit run to see if we reach target.
We can see price has reacted already off the 50% fib and this has given me my confirmation that the price SHOULD continue down. Of course this is forex and the markets will do what they want. make sure if you follow you us your own risk management and trade safely. My Stops are just above the previous highs at the 50% fib allowing price to just come back and retest this area should it pull up.
We can see price has reacted already off the 50% fib and this has given me my confirmation that the price SHOULD continue down. Of course this is forex and the markets will do what they want. make sure if you follow you us your own risk management and trade safely. My Stops are just above the previous highs at the 50% fib allowing price to just come back and retest this area should it pull up.