Pretty Straight forward analysis. Key Support and resistance levels are in play. Wait for Monday to fake out and trap more buyers with strong candles, I will be setting a pending order so I can get in at the best price possible. follows by a directional push to the down side. take half profits at the target position 1. Wait for the pull back (probably 50 retracement) then follow it down for the week. Wait for a double bottom, and then the midweek reversal to take you back up. Dont get greedy, take profits quickly. This pair could mess around and shoot all the way back up to the top, killing all your hard work.
Pending Order was hit. I set my entry at the .618, it ended up going all the way to the .786. Thats Ok, because I only took a small position. I am almost in profit, will wait to see what today brings. Instead of going to the 1.618 extension, I will be going for the 1.272. My TP is now set at the .78400. a key psychological level. I will move my stop loss down @ .7900 to break even. Lets see what happens.