DislikedFirst, I'm a real newbie, trying to learn to apply the NB technique. I would appreciate critique on the following from any real trader:
Various press articles have said that 1.5 having been breached, the pair could now go down to 1.47 or 1.46
Chart-gazing, I find there is some support (Feb and Jan) on and around 1.4761, the 76 fib from the last major wave. The 1.476 area has been used as both support and resistance, but I also find support around the 1.49 area.
Applying what I have learned in this thread, I would prepare to set up a long at 1.4765, not the 1.49 area.
Or maybe I should just forget this and focus my chart-gazing at the 1.46 area?