lets start with monthly 2 doji long candles each between 400-500 pips currently engulfing the Oct. candle. tingling between 0.50 & 0.382 fib level Currently MA 200 is sitting around 1.2370+/- last high 1.22- and starting to build a triangle pattern
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Weekly chart price @ 0.786 fib level price has broke over MA 200 and confirmed this move was a retest on weekly chart this weekly chart MA 200 (1.1700) has proven to be extremely important and strong support after price broke above the MA 200, 4 times MA200 has rejected this level. last recent rejection was last week ending up with a pin bar on MA 200
Daily chart Now on daily chart the importance of 1.1600+ - 1.1700+ zone it is more obvious now while we have 3 high and different time frame, fib levels overlapping in this zone. this level becomes decision zone. are we breaking this level and going back a re test the 1.05-1.03 for 4th times or we are continuing with bull to 1.50 level?
I am gonna take 16 rejection candles on daily including 6-7 pin bar with 3 daily,weekly, monthly fib level that confluenceing this zone & with weekly MA 200@ 1.1700 & the 2 doji's on monthly and the fact that every single bull candle in past -3 month been MASSIVE and POWERFUL & last but not least divergance in daily chart (there are more reasons but i think i covered the most important ones. and put my MONEY ON BULLS.