Most 786+ POC confluence gives out great possibilities for an entry, one such entry is around the corner.
Why bear?
we are forming lower high on high time frame, gives me a reason this will continue as we have lower levels to visit especially the 618 fib fan.
Here we can see most of the fib fan working, even on the 2008 crash we found support at 618.
This...
weekly fibs show we are at a perfect level to turn around.
All time high to 3k swing low fib we just hit the .786
3k swing low to 14k swing high is almost at the 1.272 ($16,741)
weekly fibs show we are at a perfect level to turn around.
All time high to 3k swing low fib we just hit the .786
3k swing low to 14k swing high is almost at the 1.272 ($16,741)
*Not trading advice, entertainment purposes only, DYOR
Reasons for a trade:
1.) Putting in market structure at or below
78.6, off fibs from 3 most recent highs.
2.) Has W and working on confirmation of larger W
3.) Moving Average Convergence
4.) Put in market structure after break of 2
significant downward sloping trendlines
5.) Divergence in MACD
6.) Market...
On the monthly/weekly we can have a 50% retracement up to 1.1875.
On the daily, we are expecting to test the upper bound of the downward sloping channel since the beginning of 2019.
Downward sloping channel upper bound: 1.1393
.786 Fib from early March swing: 1.1366
Potential TP: 1.1265
Since the ECB on 20190307, we haven't retraced 50% of this 7 day crawl up....
