Welcome back,.
At previous analysis, we have 1462 as strong support.
This level are combination of 3 support :
Fibonacci support, October 01 support, and trendline support.
And we can see, that bearish stop after hit this support. Congrats.
Aiming for bullish from this position are not a bad idea, we have 3 target for this setup :
1492 at classic support and resistance
1505 at triangle resistance
and fibonacci 1.618 projection at 1618.
If 1462 break down with one full candle at 4 hour timeframe,
bearish will continue to reach major support at 1402
My trading plan :
Buy (3 opening position) with 3 target at : 1492, 1505 and 1618
Stoploss : use your money management system
Sell if 1462 break down with target at 1402
Good luck
At previous analysis, we have 1462 as strong support.
This level are combination of 3 support :
Fibonacci support, October 01 support, and trendline support.
And we can see, that bearish stop after hit this support. Congrats.
Aiming for bullish from this position are not a bad idea, we have 3 target for this setup :
1492 at classic support and resistance
1505 at triangle resistance
and fibonacci 1.618 projection at 1618.
If 1462 break down with one full candle at 4 hour timeframe,
bearish will continue to reach major support at 1402
My trading plan :
Buy (3 opening position) with 3 target at : 1492, 1505 and 1618
Stoploss : use your money management system
Sell if 1462 break down with target at 1402
Good luck