Our fib extension level was almost exactly the high of yesterday, in the morning I said that if we broke out the only resistance was the fib level "If we break out above 1183.50 there is no clear resistance, I will however looking at 1186.75, this is the fib extension 161.8% of the move down from 1183.50 to our most recent low of 1178.25. I would need to see some very good confirmation to take this trade. One possibility is a trendline drawn on the highs on the 1 hour chart or preferably a one hour PIN at high stochastics with some divergence around 1186.75. Time will tell."
In the end there was no trade for me because there was no PIN on any timeframe.
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