D1 - Triple cycle down and price respecting downtrend line.
H4 - Magnet zone formed with 38.2 fibo retrace of the triple cycle, 100 fibo extension of the double cycle and the downtrend line.
Potential bearish divergence forming and if the price moves higher and reaches this magnet zone, we can look for bearish reversal and join the bears.
Note: As we are...
D1 - We have big uptrend line and price is being respected.
H4 - We have a big cycle and magnet zone. Potential bullish divergence forming.
H1 - Price reached magnet zone and has now moving higher breaking the downtrend line.
The uptrend line and magnet zone on this H4 chart should hold in order for us to look for buy opportunities.
W1 - Price moving inside a channel.
D1 - Triple cycle completed and we may expect the price to reach 50 Fibo retracement and a reversal to happen from there.
H4 Scenario 1 - We may expect a small correction and after that the price to reach the magnet zone and a reversal to happen from there.
H4 Scenario 2 - We may expect a reversal to happen from the zone...
H1 - Magnet zone broken up and holding at the moment.
Setup is not valid until the price is above this zone.
If the price gets back inside the zone, then our plan is valid.
