EU Potential Short Trade:
There are releases on both sides of this pair coming this session. Keep that in mind.
Using the FE off of the last run down and applying it to the high of the current ranging in order to get key levels for possible Tps, the 100% FE level is a good candidate for Tp1. From the high of the ranging, it is about the amount of the ATR down. Price seems to be oscillating about the 38% FE level, which could be used for the re-entry Ep area.
Though the chart is laid out for a short trade, with releases coming the price could end up going in either direction.
There are releases on both sides of this pair coming this session. Keep that in mind.
Using the FE off of the last run down and applying it to the high of the current ranging in order to get key levels for possible Tps, the 100% FE level is a good candidate for Tp1. From the high of the ranging, it is about the amount of the ATR down. Price seems to be oscillating about the 38% FE level, which could be used for the re-entry Ep area.
Though the chart is laid out for a short trade, with releases coming the price could end up going in either direction.