On the daily, I see that price was in a downtrend. Price has already hit -61.8 on a daily fib and made it's way back close to the daily trendline.
On the 4Hr, I see that price was in a downtrend but broke through the trendline for the buy. Price is consolidating at -27 on the 4H fib.
On the 1HR, I see that price was trending upward respecting the lows, similar to the 4HR trend. Price hit -27 on the 1HR fib and is consolidating at previous resistance area.
I am looking to see if price will retest resistance and break and retest the 1HR trendline for the sell to the next resistance (TP1) and then support area (TP2) (50 - 80 pips)
Comment
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Price continued the bull run to -61.8 on the 1HR Fib. Trade is not activated yet. Still waiting to see if it will reverse not and break and retest the upward trendline.
Trade active
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Price has broken and retested the 1HR trendline for the sell. Price appears to be going sideways but I am still expecting it to drop. Currently about 25 pips in profit.
Trade active
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Price is still lingering around -61.8 on the 1HR fib. I'm still hanging on through the buyer exhaustion and I see divergence on the RSI
Trade active
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I opened new positions as this continued to rise. It's starting to drop and made its way back to original entry. Now out of drawdown and in profit from new positions. SEE NEW trade idea for update.