Daily in a bear rotation where price has now pulled back into the daily kill-zone that has been the area of support now acting as resistance. This zone also lines up with a 38.2 Fibonacci retracement from its entire swing leg. Targetting the next structure extension lower which has multiple confluences: 1.618 Fibonacci extension, an AB=CD equual measured move from its previous lower high outside return and new low, a 38.2 Daily swing leg Fibonacci retracement, a 61.8 Fibonacci retracement from its previous low on the 22nd of June to the peak on August 31. and lastly a 1.272 Fibonacci nextension from the daily swing leg violation that put price in this bearish rotation. Should price get to the target zone, there is where I will be looking for longs for the higher time-frame continuation trend higher.
Nota
240 Ascending Channel completes and could start to see movement to the projected target zone. A break and close below the 1.16847 on the 4 hour will increase the probability in getting there. If it rebounds from its previous outside return it could turn into a head and shoulder top and can get aggressively short at the right shoulder zone.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.