Update from previous idea:
Yesterday was a crazy day!
the fib has played out really nicely, price was extremely volatile due to the news from the FED about the economy.
overall, really bullish price momentum we did see a sharp drop back to around the previous low, before bouncing back quick using my yellow line as support. blasted through all my targets before hitting the 0.236 to the dollar!!
currently seeing support at my favourite resistance box (not as relevant in shorter time frames but so far doing the job). I want to see us hold this box here allow the indicators time to reset and continue up.
I expect us in the worst case to see a test of the 0.5 fib we didn't spend much time there yesterday so there could be liquidity needing to be hit.
best case hold the 0.382/414 support and break the 0.236 chasing the previous high up at 4229, don't be scared to see a test of the 0.5 though I actually think that would be the perfect entry!
Yesterday was a crazy day!
the fib has played out really nicely, price was extremely volatile due to the news from the FED about the economy.
overall, really bullish price momentum we did see a sharp drop back to around the previous low, before bouncing back quick using my yellow line as support. blasted through all my targets before hitting the 0.236 to the dollar!!
currently seeing support at my favourite resistance box (not as relevant in shorter time frames but so far doing the job). I want to see us hold this box here allow the indicators time to reset and continue up.
I expect us in the worst case to see a test of the 0.5 fib we didn't spend much time there yesterday so there could be liquidity needing to be hit.
best case hold the 0.382/414 support and break the 0.236 chasing the previous high up at 4229, don't be scared to see a test of the 0.5 though I actually think that would be the perfect entry!
