Price could hold support off the 55 MA
if it does I would expect it to come up
to complete a H&S Pattern this comes
in line with the 50% - 61.8% fib Level
form a rejection candle and drop
Price could turn around
at the trend line if the buyer
fades here and gives up
look for a rejection candle
and for price to fail the
Hey Traders Just wanted to put this idea out for a trade setup that may be taking place in the short term
Bullish : If the pair holds the 55 I would be looking for a 13 - 34 cross and be expecting a full measured move to 84992 which comes in line with the 100% FIB level
The my second more safe target would be coming below @ around 84513 S&R level
Looking for a pullback or consolidation in the current region on the 1 hr to take my buy set up.
Reason: daily is green 4 hr is green as well. iam seeing alot of v formations so I kno the buyers and sellers have equal power and the market is getting ready to make a turn.
we need to take out the 10500 10600 region to test up to 11k