It is very interesting chart. There is a very visible GAP on Daily chart which was respected by market recently. I would say this solid support should sustain the pair above this level and I would look for ABCD pattern where AB=CD. I'm not sure if correction will hit 50% again but even with this value we have good risk/reward ratio. I would set SL just below GAP and TP close to D point.
Support like this is rare and combination of 50% retracement with GAP making it very reliable also market seems to respect this level.
In fact, this chart provides a different perspective of the market. This type of charting idea never passed through my mind. It is always good to keep in touch with professional traders.
Thank you for sharing this chart. Continue your good work.
Thank you for sharing this chart. Continue your good work.