Potential long position from this level for next week. We've come down quite strongly on this pair and landed on this key support level, seeing quite a big bounce during this week.
I think there's a big move to come on this pair, as will many, which is why patience will be key. I don't believe this is the only tap we are going to get at this level as when long positions are as 'obvious' at this one seems to be the market likes to make sure it's taken out the average retail trader well before the real move arrives.
All you need to do is scroll back on this chart and look at previous taps of this level, you'll see multiple touches before the price getting stuck in ranges/bouncing back down again and sometimes taking weeks to make the real big move.
There were pips to be had earlier this week and hopefully we can catch a large move from this level soon!
I think there's a big move to come on this pair, as will many, which is why patience will be key. I don't believe this is the only tap we are going to get at this level as when long positions are as 'obvious' at this one seems to be the market likes to make sure it's taken out the average retail trader well before the real move arrives.
All you need to do is scroll back on this chart and look at previous taps of this level, you'll see multiple touches before the price getting stuck in ranges/bouncing back down again and sometimes taking weeks to make the real big move.
There were pips to be had earlier this week and hopefully we can catch a large move from this level soon!