Retrace and Long
1) We should see a continued retrace to 108.800 (Fib=0.38) and a possible price consolidation before the bullish trend continuation to 111.200 OR a break of 108.800 and retrace to FIb 0.5 before bullish trend continuation
2) Looking left we can see strong price rejections (yellow circle) around the 108.800 price level which will cause us to believe that price will hit 108.800 and consolidate
3) Wait for confirmation of price direction before taking a position once price reaches 108.800
2) Looking left we can see strong price rejections (yellow circle) around the 108.800 price level which will cause us to believe that price will hit 108.800 and consolidate
3) Wait for confirmation of price direction before taking a position once price reaches 108.800
Penafian
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