It seems like 1.30200 area is going to become the new supply zone.
I am staying short for now but will see what happens at the 1.30200 level. In my books this move was just a bit to big to take serious. Feels like a fools trap to me. This last push also could not push past the 1.27level on a fib so she should retract 100% of the extension. Meaning she should come back to 1.302
To the new guys out there. Its important to always analyze the markets on a daily basis. You might think you short longterm but sometimes conditions change and charts shows you that your previous trades could be threatened by a new wave pattern.
I am staying short for now but will see what happens at the 1.30200 level. In my books this move was just a bit to big to take serious. Feels like a fools trap to me. This last push also could not push past the 1.27level on a fib so she should retract 100% of the extension. Meaning she should come back to 1.302
To the new guys out there. Its important to always analyze the markets on a daily basis. You might think you short longterm but sometimes conditions change and charts shows you that your previous trades could be threatened by a new wave pattern.
