DislikedThanks for the comments. I entered the trade a little early as that candle closed 8PM my time. By the time the next candle closed, I would have been asleep. I attached the continuation of the chart. It did break through the 200SMA before resisting at 365EMA. Now it seems like a round top is forming or will it be a trend continuation? Did not enter this trade as the sl to the 89SMA is more than 90 pips. What are your views?Ignored
If you drew the fib #'s from that most recent high to low, I owould guess that the 50% number would be right around where the price is now. It can linger here per that number. watch for the lower moving average to get 'bundle up' around this number and the direction difficult...90 pips is a big SL so not entering is fine. I'd wait for the market to make a move to the next Fib level...