We have a confluence between the Fibonacci extension and the Fibonacci retracement between the 0.618 levels of the retracement and 1.618 of the expansion. The reason why I have defined that it will get there is because there is an imbalance in that candle that was never filled and its 50% also converges with an institutional level that in this case would be the 1.23600 level capturing the liquidity of retail traders.
The take profit converges with the Fibonacci retracement projection and it is also followed by a disturbance candle and an imbalance which would work as a good magnet for the price to reach that area. Also we have a good risk-benefit ratio of 1:11
This analysis is a combination of Golden Trading and Institutional Trading.
The take profit converges with the Fibonacci retracement projection and it is also followed by a disturbance candle and an imbalance which would work as a good magnet for the price to reach that area. Also we have a good risk-benefit ratio of 1:11
This analysis is a combination of Golden Trading and Institutional Trading.