Where we are, where we go... i'm a bear here
Triggered at strong ResistanceH4, i've a short position with target near ResistanceW1 (now support).
Synced with the 61.8% level of Fib Extension from A to B, and looking back the structure on daily chart, we can imagine a possible retracement to the 23.6% level of all the move from Support W1 to ResistanceH4.
Eventually, breaking ResistanceW1 (now support), it can fall to a larger movement to SupportD1 level with the nearest target close to the 50% extension (something like 50 pips from resistanceW1), last TOP from April 29, and then the fall, if not a false break, to the 61.8% fib retracement.
Wishes of profitable trades.
Synced with the 61.8% level of Fib Extension from A to B, and looking back the structure on daily chart, we can imagine a possible retracement to the 23.6% level of all the move from Support W1 to ResistanceH4.
Eventually, breaking ResistanceW1 (now support), it can fall to a larger movement to SupportD1 level with the nearest target close to the 50% extension (something like 50 pips from resistanceW1), last TOP from April 29, and then the fall, if not a false break, to the 61.8% fib retracement.
Wishes of profitable trades.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.