Update from last weeks post:
The analysis did not play out exactly to plan but the bias stayed the same and there were many opportunities despite the rise from the open on Monday.
One area I focused on was the grey box which was mentioned in last week's analysis, price was testing this zone as resistance maintaining the bearish bias. so once price broke the grey box i left it alone, setting alerts for the previous high and taking a fib from the swing high on the bigger tf. you can see price broke with volume before basically reversing the exact same way. Once price failed to test the grey box as support i decided to look for a retest as resistance. My entry was 94.452, a quick 3.4R trade and price was back in the bearish narrative on all timeframes. I think it still has more to move but next week will tell.
The analysis did not play out exactly to plan but the bias stayed the same and there were many opportunities despite the rise from the open on Monday.
One area I focused on was the grey box which was mentioned in last week's analysis, price was testing this zone as resistance maintaining the bearish bias. so once price broke the grey box i left it alone, setting alerts for the previous high and taking a fib from the swing high on the bigger tf. you can see price broke with volume before basically reversing the exact same way. Once price failed to test the grey box as support i decided to look for a retest as resistance. My entry was 94.452, a quick 3.4R trade and price was back in the bearish narrative on all timeframes. I think it still has more to move but next week will tell.
