The fib level 78.6 is almost merged by 1.272 fib extention , that's probably the turning point with a lower risk.
The pair had an ichimoku breakout and pulled back, R&R 1:3
daily candle has closed above the S/R level, waiting for a retest to have a better entry
I'm still bear on this. Expecting a retrace to the daily R/L level
Waiting for a retest to the S/R level which is approximately the same as the 50% fib-level and 1 fib-extraction
Elliot wave principles indicates that we are still on wave B down.
This long time trade can be taken with a low risk.
Entering this in case of a breakout and a retracement
Some people would wait for a clean breakout from the channel and a retracement which is more safe to play.
3 wave correction is likely to happen before uptrend continuation