morning
well we danced with 1.28 yesterday which was my initial limit for shorts, but it held up and gave a nice short opportunity.
so the trade plan is still valid:
Daily - still correcting 1.204x to 1.318x swing and next target level 1.260x
H4 you can see more clearly on the 4 hour that the current move down (wave C of the correction) has retraced enough to 1.28 to provide a 5 wave projection.
This gives an initial target level of 1.262x (which aligns with daily target level well enough) with additional targets of 1.257x 1.254x and 1.250x
well we danced with 1.28 yesterday which was my initial limit for shorts, but it held up and gave a nice short opportunity.
so the trade plan is still valid:
Daily - still correcting 1.204x to 1.318x swing and next target level 1.260x
H4 you can see more clearly on the 4 hour that the current move down (wave C of the correction) has retraced enough to 1.28 to provide a 5 wave projection.
This gives an initial target level of 1.262x (which aligns with daily target level well enough) with additional targets of 1.257x 1.254x and 1.250x