A quick video on Multi time-frame analysis and of how it help give us more confidence in the lower time-frames, where we will make our entries and exits. Happy trading guys! 👍
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And again, the more information we have, the more we can be confident. As shown with the red oval drawn around the .236 retracement. this is the first eventual stop in the reversal of this trend, right at the level of the most important fibonacci cluster on the chart.
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Another point Id like to draw attention to is a long term gann fan angle that is now broken and acting as support, NOTE the green arrows of the angle coming down, being tested, then, now finally (Note magnifying glass icon) it has become support.
In additon there was a ultra long term fibonacci channel line that we are also testing as highlighted with the aqua arrows.
All in all, with this information and a few alerts set we can be confident about hour position when the breakout occurs, and we can safely nest a stoploss below this major resistance level, soon, support level.
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Correction: YELLOW arrows are pointing at a long term Gann Angle