We have had our Double top and impulse leg down if we see a retracement to the 618 I feel that pervious support could act as ressitance and see a move to the downside
We have had our double top, broken structure and have now had our retracement into the 618 area. As with my idea on teh 4hr chart im expecting this to now see a move to the downside
So have been looking at other possible ways this pair could move. Now if we look at the Monthly Chart we have had our Double Bottom and impulse leg up and a start of a retracement. And will be looking for the 618 retracement to get long. This idea is all speculation but just a look at a possible path to how we might get there. So from the 4 hr chart we have...
So looking at the current structure there is a possible pull back after the impulse leg down and opportunity to get short around teh 618 level which has shown signs of resistance before Looking at the larger time Frames we have had a big impulse leg down and the 618 level on the ! hr chart would fall in line with the A to B leg of a Daily Bearish Cypher. All...
Just a straight forward .618 retracement possible, or there could be a breakout below before. will watch and wait
Looking at this setup, I will be placing an ambitious entry to get the best possible R:R to target 1.
It appears that all of the stars are aligning with this pair. - bearish channel has been respected. - 618 retracement has been respected. - major resistance. - hanging man candle formation. - 127 extension targets align for impulse legs 2 & 3. - targets align with previous major structure. I am anticipating this to be less than simple as it's such an obvious...