prices may extend to the marked point to complete the AB=CD pattern for a 62% retracement with a 1.62% BC fib projection, it'll be interesting to see if the current resistance zone will be broken but if not, that zone will also be a good place to take your profits.
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whether this is a stop hunt or maybe the bull's have lost their steam, either way, i'm cancelling my position 40 pips down and assuming my position as a by stander until a clear intention from the bears or the bulls is made known