GBPCAD Fibonacci Analysis: Structure & Fib Confluence at Target
On GBPCAD we have a potential short setup based solely on Fibonacci levels.
After a large drop , price rebounded up to the PINK .618 Fibonacci retracement level , which coincides with the RED 1.272 and 1.414 extension of the recent bullish leg.
High momentum rejection followed and price moved down until it found support at the ORANGE . 618 retracement
I expect price to find resistance at the PURPLE reversal zone between the .382 and . 618 retracement .
If price respects this level, I will look to short and take profit at the BLUE 1.272 extension level.
If you look left, this 1.272 extension has confluence with multiple levels of structure around the 1.736-1.74 prices.
After a large drop , price rebounded up to the PINK .618 Fibonacci retracement level , which coincides with the RED 1.272 and 1.414 extension of the recent bullish leg.
High momentum rejection followed and price moved down until it found support at the ORANGE . 618 retracement
I expect price to find resistance at the PURPLE reversal zone between the .382 and . 618 retracement .
If price respects this level, I will look to short and take profit at the BLUE 1.272 extension level.
If you look left, this 1.272 extension has confluence with multiple levels of structure around the 1.736-1.74 prices.
Nota
PLEASE ZOOM IN 1XDagangan ditutup: sasaran tercapai
Nota
this trade went EXACTLY as planned.
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.