From the 4H chart we see how price managed to close above 0.6850 level, followed by retracement to my Long entry which was not quite achieved. I did not get to place a trade from the bottom but intraday pips are still there to be taken.
PA remains bullish. I think its still safe to enter long trade for a quick 50pips trade towards fib extension 27% level at 0.6900. If we manage to break the 0.6900 level and close above, I would suggest to hold it out till the target 2, Fib ext 61,8 level is achieved and take some 100pips profit.
Achieved target would give us a completion of fibonacci ABCD.
Long Entry: 0.6850
Stop-loss: 0.6809
Take profit 1: 0.6900
Take profit 2: 0.6950 (If 1h break and close above 0.6900)
PA remains bullish. I think its still safe to enter long trade for a quick 50pips trade towards fib extension 27% level at 0.6900. If we manage to break the 0.6900 level and close above, I would suggest to hold it out till the target 2, Fib ext 61,8 level is achieved and take some 100pips profit.
Achieved target would give us a completion of fibonacci ABCD.
Long Entry: 0.6850
Stop-loss: 0.6809
Take profit 1: 0.6900
Take profit 2: 0.6950 (If 1h break and close above 0.6900)
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