May Chart, page-6926

You know that saying, “three steps forward, two steps back” ?. That’s the sort of move you want moving forward.
Have a nice spike and then retest some of it. As long as you’re printing off higher lows everyone should be happy.

So then we look at what levels should a retrace trade to? Traders use varying indicators depending on what they’re comfortable with and what producers consistent results. Fibs are great, so are moving averages.
Therefore using the chart I posted, the yellow 8ema would be my first target, failing that and the median line (cream) comes into play.
But whilst it’s trading above the 8 then let it have its ups and downs. Some may have closed their trades today when the 15 min chart began to roll over locking in profits. Tomorrows price action will tell the tale IMO.

Cheers.