- Stepping down to the H4 chart, we can see the price is on the uptrend but now pulling back potentially forming lower high before going higher to make higher high.
- Using the FIB tool from last swing low to the swing high price now has pull back into the 61.8-78.6% area which is potential zone for reversal.
- Applying the counter trend line, Recently the price has broken the C.T.L to the upside, not making the lower high anymore suggesting the correction might come to an end and the price is potentially ready to go higher.
- M.A is about to cross to the upside
Long : If the 61.8% FIB hold and price showing bullish momentum or M.A crossover
Stop loss will be 10 pips below 78.6 %
TP1 will be at last swing high and TP2 will be 10 pips below the -27.2%
Have a great trading week everyone
- Using the FIB tool from last swing low to the swing high price now has pull back into the 61.8-78.6% area which is potential zone for reversal.
- Applying the counter trend line, Recently the price has broken the C.T.L to the upside, not making the lower high anymore suggesting the correction might come to an end and the price is potentially ready to go higher.
- M.A is about to cross to the upside
Long : If the 61.8% FIB hold and price showing bullish momentum or M.A crossover
Stop loss will be 10 pips below 78.6 %
TP1 will be at last swing high and TP2 will be 10 pips below the -27.2%
Have a great trading week everyone