Multi time frame analysis top town
So the bearish move to the downside ont he 4 hour shows completion at the fib extention
End of bearish move on 4hour supports Bullish case for the Day and Week setup
Fib Extension region for bullish entries
OK So I have a Weekly fib retracement @ 38%
I also have a Daily Fib retracement, also a potential higher low at the 68% fib
Great risk reward trade to the upside alongside other confluences, i.e. counter trend line break, MA/cross.
Break out retest entry for further confirmation?
Or more aggressive of the fib level with better risk reward?
Leave a comment :)
Weekly Trend Line 3rd bounce (downside)
Weekly Counter Trend line break
Weekly Support has been broken and retested
Moving average has crossed to downside
Trading below the 200 MA
Daily Trend Line Break out/ retracement.
Down Trend (Lower highs/lows)
MA is currently bearish aligning with weekly cross over
A,B,C,D fib (C 61.8% has been reached and reversed...
Weekly Trend Line 3rd bounce (downside)
Weekly Counter Trend line break
Weekly Support has been broken and retested
Moving average has crossed to downside
Trading below the 200 MA
Daily Trend Line Break out/ retracement.
Down Trend (Lower highs/lows)
A,B,C,D fib (C 61.8% has been reached and reversed off at the same point as Weekly Resistance)
Bearish engulfing...
