Trade 090817
Fibo extension that displays on the chart shows that the price has stopped at 0.786 fibo point.
Now I am waiting for the pull-back to 0.618 or 0.5 fibo point.
Those will become current resistance level, which many traders will trade.
So that I will set the sell stop at 108.18 and am waiting for it.
TP is open now and LC is only 5-10 pips. if the price goes up, the price momentum will be stronger temporarily.
But it's still in the downtrend momentum in the longer chart.
If you are day-trader, just think sell, otherwise, big traders will eat your profit !
Now I am waiting for the pull-back to 0.618 or 0.5 fibo point.
Those will become current resistance level, which many traders will trade.
So that I will set the sell stop at 108.18 and am waiting for it.
TP is open now and LC is only 5-10 pips. if the price goes up, the price momentum will be stronger temporarily.
But it's still in the downtrend momentum in the longer chart.
If you are day-trader, just think sell, otherwise, big traders will eat your profit !
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