On the daily, I see that price was in an uptrend. Price has already hit -27 after pulling back to the 23.6 on the daily fib, indicating continuation.
On the 4Hr, I see that price was in a downtrend, hit -61.8 on the 4HR fib and reversed to an uptrend. Now in an uptrend, price pulled back to 38.2 and continued upward, respecting the 4HR trendline
On the 1HR, I see that price was trending upward but broke through the 1Hr trendline and retested for the sell. However, price only pulled back to 23.6 on the major structure, 1HR fib, indicating continuation up
I am looking to see if price will either
(1) pull back to retest the 4HR trendline, then buy to the previous support/resistance @ -27 on the 1HR fib OR
(2) immediately break through resistance for the buy to the next resistance area, which is also -27 on the 1HR fib, which is also the weekly key level.
(70 - 180 pips)
On the 4Hr, I see that price was in a downtrend, hit -61.8 on the 4HR fib and reversed to an uptrend. Now in an uptrend, price pulled back to 38.2 and continued upward, respecting the 4HR trendline
On the 1HR, I see that price was trending upward but broke through the 1Hr trendline and retested for the sell. However, price only pulled back to 23.6 on the major structure, 1HR fib, indicating continuation up
I am looking to see if price will either
(1) pull back to retest the 4HR trendline, then buy to the previous support/resistance @ -27 on the 1HR fib OR
(2) immediately break through resistance for the buy to the next resistance area, which is also -27 on the 1HR fib, which is also the weekly key level.
(70 - 180 pips)
Trade closed: target reached