This is a follow up plan from Thursdays analysis.
I had expected price to break the (0.84705) support then move up. However, price broke even further to form a double bottom.

Lessons learnt: Wait for reversal pattern to form or look for candlestick info indicating a possible change in trend. Secondly, wait for stochastic to reach overbought or oversold areas. Last week entry was too early with stochastic at 69% from overbought area.

How to trade this plan.

I am looking for a bounce off (0.8489) now support.
Note: resistance is not far from the support making it a little uncomfortable to buy on this support.

2. I am also looking for another break of (0.8489) support and a buy opportunity at (0.84705) support(blue)


1. Support and Resistance 1.1. Resistance at WM3(0.8514) 1.2. Price action support at previous WS1(0.8459) 1.3. Price coming from WM2(0.8434) 2. Market 2.1. 55 above 21 but slowing ( possible reverse in market trend because of the double bottom that has formed). 3. Price 3.1. Stochastic at 71% approaching overbought area. 3.2. 5/8 cross has indicated price moving up.


1. Support and Resistance 1.1. (0.8489) resistance broken during Asian session this morning and now possible support (roll reversal). 1.2. Price action support @ (0.84705) indicated by blue horizontal line. 2. Market 2.1. 21 above 55, angle of separation steep indicating a strong bullish trend. 3. Price 3.1. 5/8 cross indicating price retracement eminent. 3.2. Stochastic at 73% coming off oversold area. 3.3. Price currently at Fib zone (50-61.8) for bears to short.

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