I am going to be keeping an eye out for a pull back to the 61.8% fib retracement line which also lines up with one of our levels of support. This would create a higher low and then look to push on to create a higher high. It also looks likely on the daily timeframe for an M.A crossover, However this depends on how today finishes.
I will do Analysis tonight at 10pm after the daily candlestick close to determine whether this would be a good trade to enter.
I would expect to see the 1.18 line reject a few candles and then for the price to fall slightly and rebound of the retracement line to then push above the 1.18 resistance line.
I would enter this trade if a number of reasons create a confluence. for example, The M.A crossover, a candlestick formation such as a bullish engulfing off the 61.8%, and a strong sign of support from the 1.17/retracement line.
I will do Analysis tonight at 10pm after the daily candlestick close to determine whether this would be a good trade to enter.
I would expect to see the 1.18 line reject a few candles and then for the price to fall slightly and rebound of the retracement line to then push above the 1.18 resistance line.
I would enter this trade if a number of reasons create a confluence. for example, The M.A crossover, a candlestick formation such as a bullish engulfing off the 61.8%, and a strong sign of support from the 1.17/retracement line.