Monthly shows current consolidation after previous uptrend. So with doing Fibonacci looking for consolidation zones with 0.786 and 0.886 levels, I found that price recently broke below consolidation support zone to hit 0.5 Fibonacci level of the previous uptrend. It is currently bouncing up from 0.5 fib Level on lower time frames. So price uptrended, then consolidated, then broke below consolidation zone to get to reach 0.5 Fibonacci. Price is currently up 110 pips from 0.5 Fib Level. Waiting for price to close above ichimoku clouds on at least the hourly time frame to confirm upward movement before entering a position for a BUY, because price can turn around for a sell and retest back to the 0.5 because there are no time frames that currently show price about ichimoku clouds for upward movement. If going for Buy, look to take profit at that previous monthly consolidation zone that was broken.
Also look into Fibonacci extensions, and lower time frame price analysis to determine whether price may indeed go for Sell back to 0.5 retracement level of that monthly uptrend.
Also look into Fibonacci extensions, and lower time frame price analysis to determine whether price may indeed go for Sell back to 0.5 retracement level of that monthly uptrend.