From the 4H chart we see how price managed to close above 0.6850 level, followed by retracement to my Long entry which was not quite achieved. I did not get to place a trade from the bottom but intraday pips are still there to be taken.
PA remains bullish. I think its still safe to enter long trade for a quick 50pips trade towards fib extension 27% level at 0.6900. If we manage to break the 0.6900 level and close above, I would suggest to hold it out till the target 2, Fib ext 61,8 level is achieved and take some 100pips profit.
Achieved target would give us a completion of fibonacci ABCD.
Long Entry: 0.6850
Stop-loss: 0.6809
Take profit 1: 0.6900
Take profit 2: 0.6950 (If 1h break and close above 0.6900)
PA remains bullish. I think its still safe to enter long trade for a quick 50pips trade towards fib extension 27% level at 0.6900. If we manage to break the 0.6900 level and close above, I would suggest to hold it out till the target 2, Fib ext 61,8 level is achieved and take some 100pips profit.
Achieved target would give us a completion of fibonacci ABCD.
Long Entry: 0.6850
Stop-loss: 0.6809
Take profit 1: 0.6900
Take profit 2: 0.6950 (If 1h break and close above 0.6900)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.