20-5-2020 - H4 US30 - Shift of momentum
Following yesterday's retracement, price has retraced lower and rejected the 4H MSB Fib layout 38 level which has confluence with the 4H Support, HH Formation, EMA Cross and Wide Inclining EMA 14.
As of now, the trend is temporary Bullish and I will be expecting price to atleast retest the nearest Resistance at 24500 before it retrace lower. According to the 38 Bounce rules, price will likely go back towards 62 level for a second entry.
Bias = Bullish, temporary Bearish
Structure = Corrective to 23750
Setup = Fib 2.0, Second enty on 62
As of now, the trend is temporary Bullish and I will be expecting price to atleast retest the nearest Resistance at 24500 before it retrace lower. According to the 38 Bounce rules, price will likely go back towards 62 level for a second entry.
Bias = Bullish, temporary Bearish
Structure = Corrective to 23750
Setup = Fib 2.0, Second enty on 62