DAILY: price is in an uptrend, pulled back to 38.2 on the daily fib. There's bearish divergence on the RSI.
4HR: price was in a downtrend, hit the -27 on the 4HR fib, reversed for the buy and has been ranging ever since.
1HR: I can see that price was in a downtrend, hit the -27 on the 1HR fib, then broke and retested the 1HR trendline for an aggressive buy.
CURRENTLY
Now that price has reached a resistance area, I am looking to see if price will pull back past the 1HR trendline to retest previous resistance making it minor support, which is also 38.2 on the FIB
(60 pips)
4HR: price was in a downtrend, hit the -27 on the 4HR fib, reversed for the buy and has been ranging ever since.
1HR: I can see that price was in a downtrend, hit the -27 on the 1HR fib, then broke and retested the 1HR trendline for an aggressive buy.
CURRENTLY
Now that price has reached a resistance area, I am looking to see if price will pull back past the 1HR trendline to retest previous resistance making it minor support, which is also 38.2 on the FIB
(60 pips)
Order cancelled:
Cancelled. price never broke trendline to enter trade