Update: No signal for long entry yet. Sitting on the sidelines.
Well price is finally creeping towards the lower bound of the channel price has been travelling within. I'm looking at the .618 Fib Retracement (Also where 100 MA support lies) for any signs of Daily candle signals of a long entry. The area between the 50 / 618 Fib levels has proven key during the past two times that price has tested to the lower bound of the channel.
Targets for the trade if entered will be the following:
1 = The physiological high and round number 2.0000
2 = The -27 Extension at 2.0400 (I prefer to put TP at the round number near the extension.)
Stops if entered will roughly be around the 1.8840 area.
Happy Trading traders! Feel free to put your own input in the comment section. =)
Well price is finally creeping towards the lower bound of the channel price has been travelling within. I'm looking at the .618 Fib Retracement (Also where 100 MA support lies) for any signs of Daily candle signals of a long entry. The area between the 50 / 618 Fib levels has proven key during the past two times that price has tested to the lower bound of the channel.
Targets for the trade if entered will be the following:
1 = The physiological high and round number 2.0000
2 = The -27 Extension at 2.0400 (I prefer to put TP at the round number near the extension.)
Stops if entered will roughly be around the 1.8840 area.
Happy Trading traders! Feel free to put your own input in the comment section. =)