I'm looking for price to continue down to the support zone at the 1.618 extension level, then retrace back to resistance. If price action were to give us a sell signal during the retracement we would look to enter short.
After retrace I predict price will break the support zone and move down to the 2.618 level.
Of course if the retracement breaks resistance at the 106.780 level, we wouldn't look to enter any positions.
After retrace I predict price will break the support zone and move down to the 2.618 level.
Of course if the retracement breaks resistance at the 106.780 level, we wouldn't look to enter any positions.