Hello Traders!
Symmetrical triangle breakout with target of 1937 .
Fib retracements :
1 ) Price took support at 1915 (.382% ) and heading up to 50% retracement (1926)
2) If price breaks 1926 we can see the price move up to 1937 which is (.618 ) retracement for the impulse move down.
If price reaches 1937 it will complete the formation of bearish flag pattern. ( 1937) is the key area of reversal now.
Trade Safe!
Symmetrical triangle breakout with target of 1937 .
Fib retracements :
1 ) Price took support at 1915 (.382% ) and heading up to 50% retracement (1926)
2) If price breaks 1926 we can see the price move up to 1937 which is (.618 ) retracement for the impulse move down.
If price reaches 1937 it will complete the formation of bearish flag pattern. ( 1937) is the key area of reversal now.
Trade Safe!
Trade active:
The 4h will be closing bullish, we will see how the price reacts at 1837 level. If it breaks to the upside we will take a positions for our next target of 1953 which coincides with the .786 retracement as well as resistance zone / breakout target for the symmetrical triangle.
Trade active:
Price may retrace back to the 1934-32 area which is 5/10 ema support as well a minor support zone on 30 mins timeframe. One can buy from the zone if its holds for the upside target of 1953.
Trade closed: target reached:
1950 - if the 4H candle closes below 1937 then it's a sell for target of 1926 as the first support.