POTENTIAL FACTORS OF CONFLUENCE + With the Overall Bearish Trend + Contact With Trend-Line from the highs at 0.800 + Price Approaching Daily 50 EMA + 50% / 61.8% Fibonacci Retracement From Highs at 0.75912 + Approaching a Monthly Pivot Line (Light Purple Dotted Lines) + Approaching a Yearly Pivot Line (Dark Purple Dotted Lines)
EDIT: IGNORE THE 50% FIB FROM HIGHS AT 0.78806 (I put 0% at the wrong level for some reason)
Remember, this is only a setup and it is not guaranteed to occur. Price can always invalidate these areas. We only enter trades after confirmation that agrees with our personal trading plan and then proceed to manage them accordingly.
Updated chart