On the 1H, there's a bearish div. forming with a doji at the end. Attempts to pinpoint the new, best entry are slightly out of focus. I would not be surprised if the entry was located in one of the Fib. confluence zones (0.886, 0.786), though a revisit of my monthly line is still possible. Given the noise in the signal, and the adjacency of relevant levels, I'm not sure there's much of a difference. The upward move being nearly certain, I do not expect worse than a higher drawdown than necessary if a buy were placed in one of these zones.
As before, [1H]Swing(0) simply refers to the present price swing on the hourly chart. All possible entries are marked. Several Fib. lines overlap previously identified zones. Colors are as follows:
0: Gray 0.114/0.886: Orange 0.236: Red 0.382: Yellow 0.5: Green 0.618: Blue 0.786: Purple
Let's see how far it runs...
Comment
My buys have not changed. If I miss this one, I will reassess.
Comment
Solid Fib. lines correspond to the upper Fib. retracement with the higher low bottom. Dotted Fib. lines correspond to the retracement with the lower low.
Trade closed: target reached
TP1 reached before a retrace. Nearly retesting the monthly support again. Still a believer in this trade and other longs against USD, but will be looking for a new entry, or to verify previously identified entries, to be entered later this week after DXY finishes a brief consolidation.
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