OVERALL TREND- PRICE IS CURRENTLY AT CONSOLIDATION ON THE DAILY TF (OF AN OVERALL UPTREND), TRENDING BEARISH ON THE 4H AND 1H.
WE HAVE 3 OPTIONS TO TAKE FROM HERE.
Based on our Fib levels, scenario 1 would present a short where price may look to get down to our 50%, break below, retest and proceed down into our 23.6%.
Scenario 2, price can bounce back up from our 50% to create higher highs and give us long opportunities.
Scenario 3, price can push back above our 61.8%, where we can take a possible long position into higher highs.
Leaning more towards scenario 1 and 2.
What do you think?
WE HAVE 3 OPTIONS TO TAKE FROM HERE.
Based on our Fib levels, scenario 1 would present a short where price may look to get down to our 50%, break below, retest and proceed down into our 23.6%.
Scenario 2, price can bounce back up from our 50% to create higher highs and give us long opportunities.
Scenario 3, price can push back above our 61.8%, where we can take a possible long position into higher highs.
Leaning more towards scenario 1 and 2.
What do you think?