perfect thrusting candle on 1hr reaches 61.8% of the last 1hr swing down....big recovery from the fall so far today...wonder how the daily candle will close ? 5min shows where the resistance may turn to support on any re-test from above it ? EDIT: 76.4% of that swing at the pullback/recovery hi now with daily/monthly pivot there too.
Bearish daily candle yesterday on a subdued pip range.....lower rising trendline on 1hr/4hr holds on retest, not so the upper falling t/line on those t/f's which breaks as price goes north in last quick thrust. Minor Uk data at 0930am uk time
Is 5700 looking more likely than 5400 first ? technical commentary I am reading beginning to suggest that but who knows.
34 pip range so far this day...not even very many high probability trading opportunities on the lower t/f's.....just got to be patient...some follow thru south on those 3 x 1hr candles mentioned above...are we headed for yesterday's low or more ranging ? We've been ranging since last Wednesday now and the channel on 1hr is slightly declining.