GU Break of trend
On the 4HR, price was in an uptrend respecting the lows. Price retraced to 61.8 on the 4H fib then crossed -61.8 twice, finding resistance at the weekly key level. There's divergence on the RSI indicating a bear move coming.
On the 1HR, Major structure, I see that price was in an uptrend retracing to 61.8 on the 1H fib then crossed -61.8 twice, finding resistance on the weekly key level. There's also divergence on the RSI against that last push up.
I am looking to see if price will push up one more time to the weekly key level... then drop to the 1HR trendline (80 - 100 pips)
OR
(1) Break the 1HR trendline and drop to the previous support area... TP1
(2) Break support and make it's way to the 4HR trendline... TP2
(3) When the 4HR trend line is broken, make its way down to the previous support area... TP3
(30 - 130 pips)
On the 1HR, Major structure, I see that price was in an uptrend retracing to 61.8 on the 1H fib then crossed -61.8 twice, finding resistance on the weekly key level. There's also divergence on the RSI against that last push up.
I am looking to see if price will push up one more time to the weekly key level... then drop to the 1HR trendline (80 - 100 pips)
OR
(1) Break the 1HR trendline and drop to the previous support area... TP1
(2) Break support and make it's way to the 4HR trendline... TP2
(3) When the 4HR trend line is broken, make its way down to the previous support area... TP3
(30 - 130 pips)
Penafian
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