Hello fellow traders,
We are currently looking for buying opportunity at the kill zone that is made up of 38.2%, 50%, and 61.8% retracement levels. This kill zone does come at previous initial structure high. On 4 hour chart, market has made higher high higher close, signaling a potential bullish move. We might look for a double bottom or RSI bullish divergence. See the chart for more details.
Keep in mind that the market can go up to previous outside return and this setup will still be valid. Only a lower low lower close below the previous outside return will make this setup invalid.
Note: FOMC meeting minutes coming up at 2 pm.
Trade safe and Good Luck !!
We are currently looking for buying opportunity at the kill zone that is made up of 38.2%, 50%, and 61.8% retracement levels. This kill zone does come at previous initial structure high. On 4 hour chart, market has made higher high higher close, signaling a potential bullish move. We might look for a double bottom or RSI bullish divergence. See the chart for more details.
Keep in mind that the market can go up to previous outside return and this setup will still be valid. Only a lower low lower close below the previous outside return will make this setup invalid.
Note: FOMC meeting minutes coming up at 2 pm.
Trade safe and Good Luck !!