4HR: Downtrend, retraced to 38.2. RSI bullish divergence
1HR: Uptrend, retraced to 50% and hitting resistance at -27 on 1hR FIB.
CURRENTLY: Price has been ranging. on minor trend, I am looking to see if price will
1) retrace to 61.8 on the minor FIB, at the 1HR trendline, then buy to -61.8 on minor fib.
OR
2) Break and retest downtrend for the buy and make its way to -61.8 on 1HR fib, @ previous support
(30 - 60 pips)
1HR: Uptrend, retraced to 50% and hitting resistance at -27 on 1hR FIB.
CURRENTLY: Price has been ranging. on minor trend, I am looking to see if price will
1) retrace to 61.8 on the minor FIB, at the 1HR trendline, then buy to -61.8 on minor fib.
OR
2) Break and retest downtrend for the buy and make its way to -61.8 on 1HR fib, @ previous support
(30 - 60 pips)
Trade closed: stop reached:
this was a classic fake out - break out. It looked like a PERFECT break and retest around 3 - 3:30 EST. HOWEVER, price reversed on us and went bearish. I took the "L" once the candle closed under the trendline.