This currency pair recently made me loose some hair so I tidied up my chart for some insight. I came up with that: Price pulled back to closely 50% so there are two options
1) It's a simple pullback in a strong bullmarket and price is shooting up from there
2) Price is going to make a more complex abc correction.
If I see a flag or some structure indicating down movement in (B) proximity,then I'm sure of that abc correction and go short with .618 retracement as target.
Good luck
1) It's a simple pullback in a strong bullmarket and price is shooting up from there
2) Price is going to make a more complex abc correction.
If I see a flag or some structure indicating down movement in (B) proximity,then I'm sure of that abc correction and go short with .618 retracement as target.
Good luck
