Not much to write before news. Levels I'll be looking at below. Still expect more downside from analysis yesterday.
- Time to think about the sell zone should the price rally higher. I'll be looking for short confirmations between 2107 to 2147. The ideal is a short entry between 2147 to 2174 with a 30 pip stop-loss and close at the end of day.
- If price reaches 1987 I'd be compelled to intraday buy with a 30 pip stop-loss. If the stop-loss was taken out, will flip the position to short to target 1850. So today's high probability high RR long trade zone is 1987 to 1937 (probably build the position with small lots as soon as the price touches 1987). I'd hold the position to the end of day with no PT.
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13:45: I'm now neutral about direction (it would require additional analysis which I cannot be bothered to conduct) and will look for setups if my buy/sell zones are reached.
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I'll add what concerns me the most is point A hasn't been taken out and we are still above 2037. Both things should have occurred by now to be honest and this has passed the baton back to the bulls so I guess I see the price heading to 1.2224 before it reaches 1850.
Spoke a minute too soon. Downside is back on with a breach of 2037!
Anyway, who knows!!!