Hi Traders!
We currently have a triangle breakout retest setup here. This usually happens after a momentum swing to either direction and then a retest of the range before the breakout. In this case, we broke out to the upside and are now looking to retest levels as Support. The main level in mind here is the 50% Fibonacci retracement level at 1.25157. The reason is because this level lines up with the trendline of the triangle breakout.
Please keep in mind though that the markets will be thinner due to the very important Non-Farm Payrolls (NFP) figure that comes out tomorrow.
Please also do not forget to like, comment and follow, this helps us greatly.
Thank you for your support!
BluetonaFX
We currently have a triangle breakout retest setup here. This usually happens after a momentum swing to either direction and then a retest of the range before the breakout. In this case, we broke out to the upside and are now looking to retest levels as Support. The main level in mind here is the 50% Fibonacci retracement level at 1.25157. The reason is because this level lines up with the trendline of the triangle breakout.
Please keep in mind though that the markets will be thinner due to the very important Non-Farm Payrolls (NFP) figure that comes out tomorrow.
Please also do not forget to like, comment and follow, this helps us greatly.
Thank you for your support!
BluetonaFX
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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.
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.