Finally, price has recently reached for and rejected off of a bearish order block that i had as my point of interest; I am anticipating a long term downtrend to follow since price is being rejected at the price 44,488. This price is significant because of the fact that I applied fibonacci to the swing high to the swing low to determine my area of entry.
RFE: i've located a monthly bearish order block then applied fibs to discover which discount level may give me the most optimal position. in this case it was the 88.60% discount level that corresponded with the mean threshold of the previously mentioned order block, which was my confirmation for entering this position
E: 44211
sl:45446( 123.4 pips )
tp: 6826( 3738.5 pips )
RFE: i've located a monthly bearish order block then applied fibs to discover which discount level may give me the most optimal position. in this case it was the 88.60% discount level that corresponded with the mean threshold of the previously mentioned order block, which was my confirmation for entering this position
E: 44211
sl:45446( 123.4 pips )
tp: 6826( 3738.5 pips )