1. Swept Weekly High with draw back into 4-hr gap up.
2. If price breaks below here, my target becomes the re-test of the 4-hr break due to the impulse move through that high.
a. WARNING: Need to watch for support on Weekly FVG and CE of 4-hr wick and support off .382 fib.
b. If target breaks below, then I would like long puts or sell calls into re-test of break as it shows rejection on the .25 fib line.
3. As we re-test this area I would like to see full support into the .50 fib/FVG.
a. Why? Confluence with FVG and Fib
b. Want to see a hammer style candle indicating support
2. If price breaks below here, my target becomes the re-test of the 4-hr break due to the impulse move through that high.
a. WARNING: Need to watch for support on Weekly FVG and CE of 4-hr wick and support off .382 fib.
b. If target breaks below, then I would like long puts or sell calls into re-test of break as it shows rejection on the .25 fib line.
3. As we re-test this area I would like to see full support into the .50 fib/FVG.
a. Why? Confluence with FVG and Fib
b. Want to see a hammer style candle indicating support
Trade active
ok, so we swept that previous high, now the falls starts.
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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.