There was strong movement at the end of January. Fibonacci retracement was reached at 14.60% which is actually important level. Pair created triple bottom and then moved up again.
GAP created on October 2016 stopped all gains twice (purple ticks) which is telling us that market recognized this level as the strong support/resistance area. Recently pair managed to go thru this GAP and market is testing this area once more. I marked with two parallel black lines recent GAP. There is something similar to double bottom (orange ticks) near this area.
I would open long position with tight SL.
SL is set just below recent GAP.
Next level which I consider as the resistance would be around 0.0002600 and I would put TP just slightly below 161.8%.
GAP created on October 2016 stopped all gains twice (purple ticks) which is telling us that market recognized this level as the strong support/resistance area. Recently pair managed to go thru this GAP and market is testing this area once more. I marked with two parallel black lines recent GAP. There is something similar to double bottom (orange ticks) near this area.
I would open long position with tight SL.
SL is set just below recent GAP.
Next level which I consider as the resistance would be around 0.0002600 and I would put TP just slightly below 161.8%.
