My Plan for Today
The breakdown has completed slightly more than a measured move from the breakdown, signaling to me that the down trend wants to continue.
The immediate H1 trend line has broken in the Asian session, so I'll be watching now the nature of any relief rally.
Day Trade Plan
I am using the Friday structure as resistance and looking for short setups if price gets above its pivot point level today above 1.1875 and below 1.1905ish. If price starts to make a higher high and challenge/break the R1, then I'll stand back as to me it will signal possibly something more bullish.
Swing Trade Plan
Starting to keep and eye out for an entry. I think the setup may take more than a day to develop though, but will look for some level that bulls begin to defend and fail on the H4.
The breakdown has completed slightly more than a measured move from the breakdown, signaling to me that the down trend wants to continue.
The immediate H1 trend line has broken in the Asian session, so I'll be watching now the nature of any relief rally.
Day Trade Plan
I am using the Friday structure as resistance and looking for short setups if price gets above its pivot point level today above 1.1875 and below 1.1905ish. If price starts to make a higher high and challenge/break the R1, then I'll stand back as to me it will signal possibly something more bullish.
Swing Trade Plan
Starting to keep and eye out for an entry. I think the setup may take more than a day to develop though, but will look for some level that bulls begin to defend and fail on the H4.
