Turning Point. Bears Exhausted

Weekly: Price approaching major pivot point 1.17000, retest of previous range breakout.
Daily: Retest of Previous bearish resistance trend line breakout and retest of bullish supporting trend line, confluence with Demand Zone, Daily 0.618 FIB. Bullish Divergence
4 Hour: 1.618 FIB confluence with Daily 0.618 FIB

**Waiting for candle confirmation or Market Pattern ex: Double Bottom top form**

Patience is Key!

FXLifestyle - Trade Your Future

Komen:

Bounced off 4 Hour 1.618 FIB & 0.618 Daily FIB & Demand Zone. 4 Hour Bullish Engulfing Candle

Komen:

Intraday trade, bullish divergence to 50 FIB level, may create a 2x Bottom for the big move back up, necklines of Double bottoms like to bounce off 50 FIB

Komen:

I personally would wait for the bigger move, and wait for close of Daily candle

Komen:

My current entry

Komen:

price hit stop loss. jumped the gun a little too soon, should of stayed with my original analysis. Waiting for bullish confirmation as price is testing the original zone i had drawn out on the charts. Price hit resistance @ 38.2 FIB, next extension is -0.27 FIB. Looking for bullish confirmation in this area to go long.