Weekly:
- Rejecting off 200 EMA
- Golden ratio fib pullback for D extension to the downside
- Multiple rejection candles at the top of sharp buy up (sellers taking control)
Daily:
- Entered fade zone (reversal zone)
- Channel support rejection
- Currently in a fib cycle (could reach top of fade zone)
4h:
- Trendline bounce
- Channel support bounce
- MACD reverted back to 0 - could mean building up energy to move upwards again
1h (entry chart)
- Currently in a triangle (fluent movements)
- expecting to bounce off both key S/R levels
- Entry will be on break and retest of one of these levels
This is a relatively choppy market at the moment which is waiting to break out. It is always best to wait for confirmation before opening a position as It could go either way at this moment in time
- Rejecting off 200 EMA
- Golden ratio fib pullback for D extension to the downside
- Multiple rejection candles at the top of sharp buy up (sellers taking control)
Daily:
- Entered fade zone (reversal zone)
- Channel support rejection
- Currently in a fib cycle (could reach top of fade zone)
4h:
- Trendline bounce
- Channel support bounce
- MACD reverted back to 0 - could mean building up energy to move upwards again
1h (entry chart)
- Currently in a triangle (fluent movements)
- expecting to bounce off both key S/R levels
- Entry will be on break and retest of one of these levels
This is a relatively choppy market at the moment which is waiting to break out. It is always best to wait for confirmation before opening a position as It could go either way at this moment in time