Monthly TF
- Shows that price is in a downtrend, we can see that the price break out of the wedge going further downwards and retraced a couple of times at the (i) trend line. And finally it broke out of the bullish channel (trend line ii).
- MA did a fake reversal in the wedge and followed up with a death cross indicating that it will go even lower.
- Fibonacchi retraced and rejected at 38.2%
- Targeting that price would break bullish engulf zone (flash marked zone)
D1 TF -
- Fibonacchi rejected at 78.6
- MA might form a fake reversal and continue downwards
H4 TF -
- Shows that price retraced to trendline (ii) then rejected it.
- Price broke out of the bull trend (iii).
- MA on its way to forming a death cross, although in H2 TF death cross has already formed.
- Bearish engulf formed
- Fibonacchi retraced and rejected at 61.8%
- Price reject at round number resistance (1.04500) and break round number support (1.04000)
Final Words - Might retrace and goes down even further or it goes down then pull back a bit and continue its way lower.
*NOTE - I'm still a newbie so would appreciate a comment/feedback :) Thanks*
- Shows that price is in a downtrend, we can see that the price break out of the wedge going further downwards and retraced a couple of times at the (i) trend line. And finally it broke out of the bullish channel (trend line ii).
- MA did a fake reversal in the wedge and followed up with a death cross indicating that it will go even lower.
- Fibonacchi retraced and rejected at 38.2%
- Targeting that price would break bullish engulf zone (flash marked zone)
D1 TF -
- MA might form a fake reversal and continue downwards
H4 TF -
- Price broke out of the bull trend (iii).
- MA on its way to forming a death cross, although in H2 TF death cross has already formed.
- Bearish engulf formed
- Fibonacchi retraced and rejected at 61.8%
- Price reject at round number resistance (1.04500) and break round number support (1.04000)
Final Words - Might retrace and goes down even further or it goes down then pull back a bit and continue its way lower.
*NOTE - I'm still a newbie so would appreciate a comment/feedback :) Thanks*
Comment:
H4 TF -
- MACD shows a divergence upwards, thus percentage of it retrace upwards then goes down is higher.