The formation of a NSH and the current pullback is allowing for another buy setup. Looking for price to retrace further towards the magic box where the Fibs overlap each other before the reversal occurs
@jamfart,thats quite the drop, meaning u trade off Daily. I specialize on H1. In the eventuality that it turns bearish, then its possible to ride the wave to that level but currently I can only see buyers pushing the market higher.
@JoeFXPips, yeh I expect another wave of buyers to take it back up but I'm still thinking the market will keep it below 80c. but I am only a small trader so I'm learning everyday. haha I just looked at what I wrote, its supposed to be 0.78500
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