Trend analysis: Downtrend 1H TF
Due to basic price action respecting the key Fibonacci levels of 50 & 382% within the current 1H chart downtrend, i believe the next move will follow this set up...
My Confirmations:
1)trend touch
2)previous zone touch
3) 50-382 % fib level respect
4) possible candlestick patterns forming at the trendline touch to indicate sellers in power
Please comment your understanding/opinions in the comment
we are all students!
Thanks
Due to basic price action respecting the key Fibonacci levels of 50 & 382% within the current 1H chart downtrend, i believe the next move will follow this set up...
My Confirmations:
1)trend touch
2)previous zone touch
3) 50-382 % fib level respect
4) possible candlestick patterns forming at the trendline touch to indicate sellers in power
Please comment your understanding/opinions in the comment
we are all students!
Thanks