As we can see on weekly timeframe, the price did momentum sell as bearish movement with EMA50 still above SMA20. This remarkable as downtrend. Thus, the minor movement of bullish is just a retracement to find setup reentry sell in weekly MA High 5 & MA High 10 area.
Then we lower down the timeframe to smaller as we can see Daily give a setup of minor extreme...
Looking for bullish setup since price at support level on weekly time frame. Entry buy at level 0.886 but make sure price does not exceed point a before reach entry zone.
Impulse movement of XA make a 50% retracement for B. Retracement of AB is forming C as in the range of 0.386 to 0.886. Point D is entry area as retracement of XA 0.886.
As we can see the price forms an impulse label as X to A. As fib retracement of XA resulting point B on 50% retracement. While point C is 0.678 retracement of AB. Thus, entry point buy on point D as retracement of XA at 0.886.
