I was monitoring this last week looking for a potential reversal to go long to 1.3700, but would be monitoring closely around the 1.3590's as there is strong support there but i am inspecting a new higher high there if even by only a few pips.
strong previous resistance around the 78.6% fib level which was a former resistance.
on the 8H charts this level has been tested but pulled back on 3 occasions, will be looking for a breakout from this area before entry but can still get a nice 1:2.5 risk reward from here.
Will all depend on market open and price action.
Should see some big moves around middle to the end of the week.
happy trading, peace !
strong previous resistance around the 78.6% fib level which was a former resistance.
on the 8H charts this level has been tested but pulled back on 3 occasions, will be looking for a breakout from this area before entry but can still get a nice 1:2.5 risk reward from here.
Will all depend on market open and price action.
Should see some big moves around middle to the end of the week.
happy trading, peace !
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awaiting breakout from an accumulation area i am watching
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very hesitant to enter a trade until price breaks out, i still think we may see a move towards 1.3400 where i would look for shorts.
can see there being some serious stop hunting both ways though before we see the genuine trends so protect your accounts
can see there being some serious stop hunting both ways though before we see the genuine trends so protect your accounts
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