Looking to enter on retest and respect of 1286 support area, which is also the 61.8 FIBO of 2018 swing. target set on 1296, 1300, 1306, 1324, etc etc. the 1286 support zone was strong in the last few sessions. the two ascending channels also indicate a conviction to a bullish break, if the 1286 support area can remain intact,.
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with the DXY being positive there is a conviction to a break of wedge to the the down side, perhaps going to test the 1276 handle...
as always, time will tell!
I'm entering with a small position on a H4 close either above or below the wedge
Trade active
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Bears managed to break the wedge on the H4, I missed the initial break entry, I'll now be waiting for a retest of the wedge as new support, alternatively a test of the 61.8 Fibo as new resistance
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Trade Idea still in play, waiting for retest of 61.8 FIBO to enter short
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So, it seems as if i missed the train on this one. hard lesson I learnt is not to try to catch a falling knife. If a retest does not happen, I will cancel this trade idea, and move on to the next
Order cancelled
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Bullish Conviction cancelled for now, price action might go and test the 38.8 FIBO at around 1278?