Price has broken out of a Triangle consolidation with a strong bullish momentum. Following an extended bullish push, price has now entered a corrective phase as it retraced lower. I'll be expecting price to retrace lower towards 1720 Institutional Level which has confluence with the 4H MSB Fib 70.5 level, 4H SMA 50, Daily EMA 14 and a Wide Inclining EMA 14.
Bias = Bullish, temporary Bearish to Fib Long region
Structure = Corrective Phase
Setup = 4H MSB
Bias = Bullish, temporary Bearish to Fib Long region
Structure = Corrective Phase
Setup = 4H MSB
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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.