Long Bullish Position pending in the beginning of the new week. We have dropped down to last weeks Low Value Area and have since created a new Point of Control at this level with last weeks Point of Control becoming the second Fair Value Area (Projected Target). The trade is a 1:3.5 RR however this is just an idea at the moment as we haven't seen what price will do at market open and this can effect the decision.
I also see the potential for price to quickly fall to the low value area around 1.82300 as it is also a previous support but we would see a quick retracement back up from this level if we did drop to it.
We will see but i'll be watching this setup / pair into the new week.
I also see the potential for price to quickly fall to the low value area around 1.82300 as it is also a previous support but we would see a quick retracement back up from this level if we did drop to it.
We will see but i'll be watching this setup / pair into the new week.