2618 Buy Setup On Higher Timeframes

EURUSD pulled back to 61.80% retracement level and is building support around here. There's was some 16% extension beyond the previous low and currently the parallel median line of this inside set is zoomed, which shows some underlying strength of this pair at this level. It makes sense to accumulate long positions with stops below the current low for longterm holding. A pre mortem approach is necessary as there is always a 40% chance of any trade setup turning bad. The first sign of lower prices would be the current low being taken out. For now, the setup looks plausible.