We see three scenarios that could happen simply by reading structure and using fibbonaci
After breaking Descending triangle to the south, the market made one harmonic move (blue lines) and reversed at 141 fibb extension and now the price is heading to the north where it will find two obstacles (resistance levels) which could be broken or not
Red boxes shows spots where the price finds support and resistance
After breaking Descending triangle to the south, the market made one harmonic move (blue lines) and reversed at 141 fibb extension and now the price is heading to the north where it will find two obstacles (resistance levels) which could be broken or not
Red boxes shows spots where the price finds support and resistance
Note
Entry point triggered High probability Cypher pattern
If I have a chance to increase position size to standard lot this would be that "One Good Trade" by Mike Bellafiore :D
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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.
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.