In the event that price prints a pullback and revisits November’s opening line today, a buy from here could be an option. Besides fusing nicely with a 38.2% H4 Fib support at 23394, both the weekly and daily timeframes show little resistance on the horizon.
Suggestions: Wait for H4 price to retest 23392 and pull the trigger if, and only if, a H4 rotation candle forms (a full or near-full-bodied candle). The initial take-profit target, should the trade come to fruition, will be the H4 seen at 23579-23556.
Data points to consider: US housing figures at 1.30pm GMT .