Things to keep in mind:
- Price has hit a strong
- 4hr chart upward channel
- Hit 1.27 fib ext
If friday closes below this red line the price has formed a lower high signalling a . This line is placed on the fib 0.38 retracement level and also lands on a minor .Therefore closing beneath it will show price has power to move down for the coming week.
If friday closes above this green line the price has formed a higher high signalling a . Also Broken out of the upward channel.
Tell me what you guys think? , have I missed something?
sell order TP at 12600 with SL at 16500
buy order dont know yet have to see the strength of the breakout