Long

#ARB Pullback to structure and 61.8 Fibo

Updated

In time h4, after correction in a descending channel, it is now out of the channel, which can be prepared to continue the upward path after the pullback to 618 Fibo, which is currently a resistance level, confirming the failure of the descending structure. Therefore, at the specified level, it is possible to continue the upward trend with confirmation.
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Wait for a break from the corner, if confirmed, you can enter a buy position.

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According to the correction form, you can enter a short-term selling position.

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Touch target and now

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After breaking the supply zone, the first target is the red box range, which we should probably see a reaction and a pullback to the broken structure. The $2 range is the first target of the uptrend.

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Wait for confirmation and then enter into the purchase transaction.

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In time h4, a corrective structure can be seen, you can enter a sell position in the specified area. Pay attention, this structure can return at least 100% of the wave.
In the previous buy position, it was checked according to the type of structure of the previous wave, which is still valid. This position will not create a gap in the previous position and this position can be considered temporary.

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So, the break of the 61.8 Fibo area is again a rising guard to reach the target.

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After reaching the specified target with support of 1.95, the next target of 2.24 will be available.

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Full target short-term buying position. Now it will have the ability to reach 2.15 and the region 2.20 to 2.25.

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Next Position...

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If the 50% Fibo range of the previous wave is supported in the green box area, it should touch the specified supply area soon, and then an upward rally will be waiting for it.

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There was a corrective three-wave movement up to the 61.8 Fibo area. In case of pulling back to the area, it will have the ability to recover at least 50% of the wave.

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Touch supply area.

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More than 17% growth up to the red box area

alikze

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