M: Downtrend, broke and retesting for the buy
W: Uptrend, respecting the lows
D: Downtrend, Retraced 50%
4H: Uptrend. Retraced to 61.8 and consolidating just below monthly level
1H: Uptrend: price retraced 50%, However, retesting resistance @ monthly level + BEARISH DIVERGENCE
CURRENTLY:
Minor structure downtrend, confluent with RSI, Price broke a retested minor trendline. I'm looking for price to SELL to retest 1hr trendlines @ previous support (-61.8 on minor fib.)
THEN WAIT to see is price breaks support and continues selling or reverses to buy to previous 1H resistance (Eye on fundamental US & UK news this week).
(~ 45 pips)
W: Uptrend, respecting the lows
D: Downtrend, Retraced 50%
4H: Uptrend. Retraced to 61.8 and consolidating just below monthly level
1H: Uptrend: price retraced 50%, However, retesting resistance @ monthly level + BEARISH DIVERGENCE
CURRENTLY:
Minor structure downtrend, confluent with RSI, Price broke a retested minor trendline. I'm looking for price to SELL to retest 1hr trendlines @ previous support (-61.8 on minor fib.)
THEN WAIT to see is price breaks support and continues selling or reverses to buy to previous 1H resistance (Eye on fundamental US & UK news this week).
(~ 45 pips)
Trade closed: target reached