Breather Level Hit

Good Afternoon Dynamic Traders,

I would like to start today wishing Zaheer a very happy birthday for last weekend, happy 30th dude.

On my update on Monday, I spoke about price hitting a breather level and potentially starting to climb again. If you look at the day chart below you will see that price did stop falling at the Fib breather level and looks to climbing, although this is still early days yet.

Now that have a rough idea of what price is going to do, we should get prepared in case the opportunity to take trade comes our way.
We know that price has hit the Fib breather level and seems to be climbing. If price continues to climb then we should be looking for a long entry. As always this depends on what kind of trader you are. The conservative trader would be waiting for a BOB above the pivot point that I marked on the day chart below.













There is another to look at this chart, but I will cover this next time.

Happy Trading

Richard Monnery