UPDATE 160705tu 10.00BST EURUSD London Open Strategic and Tactical Trade Plan
On H4 EURUSD just printed a beautiful textbook pinbar that rejected a cluster of confluent resistance levels.
Also on H1 EURUSD made a long shadow and a dark cloud cover that engulfed more that 3/4 previous move.
Ain’t it a beauty?
I expect now the pinbar to retrace to its Fib 38.2-61.8 “sweet spot” as Wayne say
and then eventually head down.
What do you think?