Here's another chart.
Price is near 50% fibo at 1.2654.
I will look to short with in 15 pips of that 50% fibo and s/l 15 pips beyond it. Target 1.2520. If the s/l gets hit then I'll reverse position and target half way to the 62.8 fibo.
The eur/$ commonly goes half way between the 50 and 62.8 befor returning to its prior trend direction.
Dave
Price is near 50% fibo at 1.2654.
I will look to short with in 15 pips of that 50% fibo and s/l 15 pips beyond it. Target 1.2520. If the s/l gets hit then I'll reverse position and target half way to the 62.8 fibo.
The eur/$ commonly goes half way between the 50 and 62.8 befor returning to its prior trend direction.
Dave
Attached Image