ON A DAILY MAJOR DOWNWARD MOVE THE D EXTENSION WAS REACHED AND BECAME A NEW B POINT.
SO WE SHOULD EXPECT A MOVE UP TO FIND THE C RETRACEMENT TO AT LEAST THE 38.2 RETRACEMENT WHICH ALSO IN CORRESPONDENCE OF THE BIG DOWNWARD CHANNEL, AT ABOUT 104,91, WHICH GIVES A POTENTIAL 400 PIPS MOVE.. POSITIVE NFP WHOULD BRING THE USD UP.
WHAT DO YOU GUYS THINK? ON A 1 HOUR CHART I SPOT AN ENGULFING CANDLE, I 'D BUY NOW WITH A RISK OF 60-70 PIPS WITH A 400 PIPS MOVE. RISK REWARD SEEMS PRETTY GOOD
SO WE SHOULD EXPECT A MOVE UP TO FIND THE C RETRACEMENT TO AT LEAST THE 38.2 RETRACEMENT WHICH ALSO IN CORRESPONDENCE OF THE BIG DOWNWARD CHANNEL, AT ABOUT 104,91, WHICH GIVES A POTENTIAL 400 PIPS MOVE.. POSITIVE NFP WHOULD BRING THE USD UP.
WHAT DO YOU GUYS THINK? ON A 1 HOUR CHART I SPOT AN ENGULFING CANDLE, I 'D BUY NOW WITH A RISK OF 60-70 PIPS WITH A 400 PIPS MOVE. RISK REWARD SEEMS PRETTY GOOD