If you can see that on the fib level it exactly bounced off the resistance around 1919 which is around 61.8 and formed a double top on the hourly and 4 hour chart which pushed it down to lowest of 1874. and now as you can see this is a good opportunity to buy around 1873 and take profit at 1908 . And wait for the the next opportunity where if the it breaks above 1908 ..sell around 1935 since you can clearly see a downtrend channel.
Nice one! it's now made a run up to the 1930 area, what are you expecting from now?
Cheers
jigz91
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@P_Kovac, from my perspective i see that it will continue with the uptrend just based on a double bottom that was formed in a daily chart. And it also broke the neckline of 1918 which is also the fib level of 61.8. so i would go long but it might come back to retest the area of 1920 and do a false breakout to capture liquidity and continue up from there. Also you can clearly see that once the market opens up there might be a double top forming on a 15 minute time frame so that indicates that it will most likely come back to retest the 1920 area and continue higher from there and TP will be around 1950. And if you take your indicator and draw a trendline in a 4 hour chart its creating a ascending triangle to indicate that its a bullish movement.
VincePrince
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The projections are well structured, thanks for sharing.
jigz91
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@VincePrince, thanks appreciate the feedback ! Cheers
Cheers