FIBONACCI CLUSTER TRADE: 1.618 INVERSION at STRUCTURE
Updated
Hey Traders,
as i walked through my pre market analysis, this setup caught my attention. I firstly identified the structure on the daily timeframe for a possible trend continuation to the downside. I then switched to a lower timeframe and identified the double top, with fibonacci confluence and bearish divergence on the rsi. We've got a retracement, an extension and an inversion.
This is just for educational purposes to show how fibonacci level can interact with structure.
Website: ogtpartners.com
Twitter: goo.gl/9EdYPk
Facebook: goo.gl/qH7M51
as i walked through my pre market analysis, this setup caught my attention. I firstly identified the structure on the daily timeframe for a possible trend continuation to the downside. I then switched to a lower timeframe and identified the double top, with fibonacci confluence and bearish divergence on the rsi. We've got a retracement, an extension and an inversion.
This is just for educational purposes to show how fibonacci level can interact with structure.
Website: ogtpartners.com
Twitter: goo.gl/9EdYPk
Facebook: goo.gl/qH7M51
Note
BAZINGA. Reached Targets. Great example of how to combine Fibonacci ratios and structure.
Erfolgreich traden lernen.
wirmachentrader.de
wirmachentrader.de
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