If I am a bull;
Look for buying opportunities at the 1.3 support zone or the low of the bull channel with targets being the top of the bull channel or the 161.8% extension, 78.6% retracement confluence. Remember the bear channel high (4H chart) which will act as falling resistance.
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If I am a bear;
Wait for strong break and weak retest of the 1.3 zone and also a break of the bull channel lows before looking for short opportunities.
Look for buying opportunities at the 1.3 support zone or the low of the bull channel with targets being the top of the bull channel or the 161.8% extension, 78.6% retracement confluence. Remember the bear channel high (4H chart) which will act as falling resistance.
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If I am a bear;
Wait for strong break and weak retest of the 1.3 zone and also a break of the bull channel lows before looking for short opportunities.
I may trade all, some or none of the ideas posted. All of my contributions are for educational purposes only. 'TRADE What You SEE'' and all the best!
