The market has reached the daily target fibo 200 and broke the H4 structure by breaking below the H4 impulse base.
If H4 makes a new low before making a new high, the countertrend becomes valid.
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Orange lines represent impulse bases on major timeframes, signaling the direction and validity of the prevailing trend by acting as key levels where significant momentum originated.
Level colors: Daily - blue Weekly - purple Monthly - magenta H4 - aqua Long trigger - green Short trigger - red
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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.