This has made a good retrace, I would like to see it touch 0.5 Fibonacci ideally before dropping. MACD and EMA's have this on the verge of being bullish on this timeframe so I want to see these cross back lower before entering a trade. If they do not then this could continue higher to the next resistance level before dropping.
I have set TP just below the previous low at 1.52278 although I see this continuing down to around 1.47273. To reach that second target I would likely take the profit and make a second trade after a retrace.
I have set TP just below the previous low at 1.52278 although I see this continuing down to around 1.47273. To reach that second target I would likely take the profit and make a second trade after a retrace.