I never thought of looking it like this. The pullback area is between 50-68.1 retractment of the last leg up. So it can hit there and go back up.
But if it breaks the start of the impulse it's a reversal. Nice
UnknownUnicorn4341532
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@wiqbal494, fibonacci is good but structure is the most important. Don't get me wrong I use fibo very very often. Thanks
wiqbal494
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@andiaibm_fx, whether you meant it or not the fib levels line up perfectly with what you have posted... It gives those areas extra confluence as alot of traders will use fib for key areas and other will use support and resistance. Just beautiful when both line up
UnknownUnicorn4341532
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@wiqbal494, honestly I wasn't haha. yeah it can be a high probability trade
But if it breaks the start of the impulse it's a reversal. Nice