Price had a nice bullish move up and found resistance at around 1.7332 from where it retraced to a daily support, on the 4HR timeframe you can see a slowdown in selling coming to this support when looking at the candle stick formations.
On the 1HR there is a possible double bottom forming, I will wait for a break of the neckline with a candle close above and then buy on the retrace.
Price might still move down lower to around the 1.7240 area which is the FIB 0.5 of the retracement.
This is not a signal, I am still learning and any feedback would be greatly appreciated.
Thanks
On the 1HR there is a possible double bottom forming, I will wait for a break of the neckline with a candle close above and then buy on the retrace.
Price might still move down lower to around the 1.7240 area which is the FIB 0.5 of the retracement.
This is not a signal, I am still learning and any feedback would be greatly appreciated.
Thanks
Comment:
With the new low set on the 1HR I will now consider this trade invalid, let's wait and see how price reacts when it gets to the FIB 0.5