Break in trend, Bullish candle, good volume, break in resistance...
Broke trend, change in MS,
Identified a break in downtrend HH formed - change in market structure Waiting for a pull back to those fib levels Looking for bullish candles for confirmation before entry First target is around 174.8 mark again Stop loss below the next fib level down
Alot of indecision in this volatile time, especially on Daily chart, could go either way. Though is still sitting on Daily support 4H Chart looking bullish.
Currently sitting on 61.8 Fib Level on a Weekly retracement, Appears to be following a descending channel that is narrowing, A continued break down from here would mean that it probably was a bear market rally, though it still could push sideways a break up, though I wouldnt take any Weekly/Daily trades till the direction is a bit more clear
Watching for a bullish signal of fibs, could be the sign of it starting to make its way back up to test that major area, though at this stage could still go either way, and start pulling back down way before it reaches then
The bottom trendline is debatable depending on how you draw it using wicks or bodies, though the one ive currently filled in has the most touches. Should price go back up to re-test that major level of resistance, the circle is where I'm looking for a trade either up on the break, or if it respects the downtrend, then continuing down..