Buy opprotunity
Updated
Yesterday we seen price respect the Weekly .50% level of the fib and Daily .618%. Today we have seen price respect the Daily .50% also. It pushed through a heavy Resistance area with no retest and now is looking to break through the Daily and Weekly Resistance zone. With this much momentum there can be two point of entries for a buy. Wait for a pull back to the previous resistance/support area or see if price can break and retest the Daily and Weekly Resistance. (Red is .50% levels and Yellow is .618% levels)
Note
Keep in mind we are forming an inverse Head & shoulders pattern on the monthly and price is looking to correct itself.Note
Price is potentially forming a head & shoulders pattern on the 1HR so if does not respect the .50% level or the .618% I will be looking to sell to 79.200 and then 78.750
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