DislikedHi PB,
If the bar had formed they way it looks in your chart I would absolutly have taken it, not because of the Fib but simply because a nose like that shows that all the orders below 1.55 were tested, and proved that there was a ton of demand below that level
The actual "depth" of the pullback doesn't bother me too much personally, It was more the bar I had a problem with being "perched above" that round number, and more importantly, the PPZ we are trading away from.
Hope I made sense,
JonnyIgnored
Not sure I understand the orders being tested below 1.55 though.
Is this related to taking out peoples SLs below the 1.55?