Price did give us the bounce out of the B
low area, but we are back there again testing the lows. We need to find support
here again to head up. If the low doesn’t hold and price breaks to the downside
then we will have a new AB swing in play. A bounce however should have price
heading towards 5220.
Will be going long if:
We will only consider long entries on a clear bounce out of
current levels. Limits will be 5210 over coming sessions and will signal a
reversal in progress. Stops will be 10 pips below the low, max 1% risk.
Will be going short if:
No short immediate short setups, we need a minor 618 test for
a short entry, for now we stand aside.
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