As you can see, i believe the trend has changed and broke the current downwards trend. Im trading short till 1270 and then long till back to the top. Would love to hear others thoughts and opinions.
4hr chart, i believe this has bounced back to the downside, however as soon as market opens up tonight, whether it carries on will confirm the bounce for us. Fib Retrace 38% bounce back down. Downwards short term trend. Lower low TP of 1260.00.
Possibility that this will bounce of trend line, and the Fib Retrace of 38% to make a short term long. - Fib Retrace 38% - Upward Trend Buy @1.67655 (Waiting till confirmed upwards and not breaking the trend) TP @ 1.68300 Sl @ 1.67625
Slow and steady downward trend. looking likely to carry on. Entry point roughly 1.50460 or higher. TP @ 1.50000 (40 Pips profit) Sl @ 151150
I Believe it will break the trend, and if this is the case eventually reach the Resistance line of 1289, before bouncing back down, creating a new trend.