Felix_Hoevelborn
Short

FIBONACCI CLUSTER TRADE: 1.618 INVERSION at STRUCTURE

FX:EURJPY   Euro Fx/Japanese Yen
8 months ago
Hey Traders,

as i walked through my pre market analysis, this setup caught my attention. I firstly identified the structure on the daily timeframe for a possible trend continuation to the downside. I then switched to a lower timeframe and identified the double top, with fibonacci confluence and bearish divergence on the rsi . We've got a retracement, an extension and an inversion.
This is just for educational purposes to show how fibonacci level can interact with structure.

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8 months ago
Comment: BAZINGA. Reached Targets. Great example of how to combine Fibonacci ratios and structure.
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