EJ:
PA is in the middle of a 200 pip range, as shown in first chart (M30), with price just recently dropping below the mid-range whole number. The second chart (M15) shows how I am viewing the potential for the price to move downwards, at least to the bottom of the range. The FE study has the 127% projection level just above the bottom of the range whole number. But I am placing target at the FE 162% level, the area of the previous most significant low.
The SL will be tightened to BE+ if this starts to move down in the early asian session. If it stalls 20-40 pips down, I'll close and look for re-entry on another move down later (FO/LO?).
Now, I'll just wait and see what the market decides.
PA is in the middle of a 200 pip range, as shown in first chart (M30), with price just recently dropping below the mid-range whole number. The second chart (M15) shows how I am viewing the potential for the price to move downwards, at least to the bottom of the range. The FE study has the 127% projection level just above the bottom of the range whole number. But I am placing target at the FE 162% level, the area of the previous most significant low.
The SL will be tightened to BE+ if this starts to move down in the early asian session. If it stalls 20-40 pips down, I'll close and look for re-entry on another move down later (FO/LO?).
Now, I'll just wait and see what the market decides.