Disliked{quote} You say that price retracing to the 50% level has "..done it's job...", and that the bounce back down from that level provided good support for shorts. Yes, that was a good place to short (presuming something more in the way of a setup occurred, and not just the 50% retrace), but when is "...it's job..." truly done? No one can say. We can not ever know these things. For all we know the price will drop to at least the 0.8850 area to form a double bottom. If that happens, there is all the likelihood the price will go that further bit to complete...Ignored
Understanding liquidity, Time Action and Price Action is priceless!