ft_lamoy

ft_lamoy

looking for price to grab liquidity at level 183.000 which is also a fib retracement level, and then push to the downside to level 181.600

ft_lamoy

price is a on a strong uptrend, therefore i am looking to go long until price hits the 61% fib zone, which is around 185.000

ft_lamoy

daily and 4H timeframe looks to be bearish, price already broke through support now looking to enter on the retest of new form resistance.

ft_lamoy

As you can see price break above resistance and came back to retest structure and the 61% Fibonacci; Am awaiting on price to reject the 61% Fibonacci.

ft_lamoy

On the 4H timeframe Price is respecting the SMA and also the 61% Fibonacci, lets see how this plays out.

ft_lamoy

As you can see on the 4H timeframe price have been trading over the 100 SMA and on the daily timeframe price has been testing resistance for some time now and always failing to break above which leads to wicks being formed but todays daily candle did not reject resistance in fact it closed at resistance which tells me that price is building momentum to break...

ft_lamoy

Looking to see price rejects zone 167.258 before going into a bearish trade if price breaks through then price will go back to previous highs.

ft_lamoy

Target eliminate, if price respects the 61% fib level then I look to bearish if price dont respect the fib then price will go to previous high.

ft_lamoy

As you see I'm currently going bullish on the retracement move to the 61% fib level if price respects that level I will go back to being bearish knowing that price made a retracement which will now be a down trend if you should draw the trendline

ft_lamoy

Price broke bellow level 156.000 if you know when price is consolidating you draw a box around it and after it breaks the box then that's the direction the market will go. Price was consolidating because it was at all time high and price haven't broken above it in a long while. price broke bellow level 156.000 the 14th of January 2022 and will continue going down...