- Clear bullish channel - price currently sitting perfectly at dynamic support, anticipating rejection and bullish impulsive move - Falling wedge pattern on 4 hour timeframe, ancipating break to upside - Sitting at 0.5 Fib level, could see reversal from this area
looks good but focus more so on current price action from this year with psychological levels in mind too
rcjugg
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@tdrpaige1, ok
Sophiaelias
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May I ask why did you place your fib retracement to the Nov low, rather than the more recent one?
rcjugg
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@Sophiaelias, I usually like to draw my fibs from the previous higher low that has touched the trend line/support level. The most recent one was pretty much an equal low and so it wouldn't have necessarily been of any use for my analysis.👍