Hi Guys,
Back in it again after reflecting on my previous SL hit.
So looking at the D1 we can see a minor W formed with a push to upside and after a W formation what do you expect? a push do the down the neckline A.K.A the previous support which also lines up perfectly with our 50 fib Ext and our Trendline so I will be monitoring price action on the two levels 0.50 Fib if we break I will look at 61.8 fib and wait for price to provide me with the information I need to enter my long position with a good risk to reward.
Back in it again after reflecting on my previous SL hit.
So looking at the D1 we can see a minor W formed with a push to upside and after a W formation what do you expect? a push do the down the neckline A.K.A the previous support which also lines up perfectly with our 50 fib Ext and our Trendline so I will be monitoring price action on the two levels 0.50 Fib if we break I will look at 61.8 fib and wait for price to provide me with the information I need to enter my long position with a good risk to reward.
Trade active:
The 61.8 Fid ext was reached and we our position
Comment:
The 61.8 Fid ext was reached and we entered our position with a good risk to reward.