Possible long position using Daily and 4H trend line + R/S + fib
Price is on a down trend in a tunnel with a up movement in the latest price action. Drawed support and resitance levels (purple) on the Daily TF. Drawed support and resitance levels on 4H TF ( yellow). Price touched the Daily support zone With a bullish divergence on the 4H TF. Waiting for a bounce towards long to the 4H resistance zone. Drawed fib levels from current SH to SL to determine TP 1 and 2.
Trade closed: target reached
TP 1 hit
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.