Currently price is at 0% with repeated rejections at 0.87
If we have a break out that will give us a rally to 130%
at 0.882 if this happens using the illustration we can see
that that would put us between 0% and 130% within a wick
this bullish movement would not be completed until we see a confirmation of price above 130%
We are taking the bearish bias here so we are looking for price to descend from 0% to 50% using the rejections at 0% as an area to accumulate sell side positions and holding until we reach 100% 100 pips lower than where we currently have price.
If we have a break out that will give us a rally to 130%
at 0.882 if this happens using the illustration we can see
that that would put us between 0% and 130% within a wick
this bullish movement would not be completed until we see a confirmation of price above 130%
We are taking the bearish bias here so we are looking for price to descend from 0% to 50% using the rejections at 0% as an area to accumulate sell side positions and holding until we reach 100% 100 pips lower than where we currently have price.