Hey Traders,
as i walked through my pre market analysis, this setup caught my attention. I firstly identified the structure on the daily timeframe for a possible trend continuation to the downside. I then switched to a lower timeframe and identified the double top, with fibonacci confluence and bearish divergence on the rsi. We've got a retracement, an extension and an inversion.
This is just for educational purposes to show how fibonacci level can interact with structure.
Website: ogtpartners.com
Twitter: goo.gl/9EdYPk
Facebook: goo.gl/qH7M51
as i walked through my pre market analysis, this setup caught my attention. I firstly identified the structure on the daily timeframe for a possible trend continuation to the downside. I then switched to a lower timeframe and identified the double top, with fibonacci confluence and bearish divergence on the rsi. We've got a retracement, an extension and an inversion.
This is just for educational purposes to show how fibonacci level can interact with structure.
Website: ogtpartners.com
Twitter: goo.gl/9EdYPk
Facebook: goo.gl/qH7M51
Note
BAZINGA. Reached Targets. Great example of how to combine Fibonacci ratios and structure.
Erfolgreich traden lernen.
wirmachentrader.de
wirmachentrader.de
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.
Erfolgreich traden lernen.
wirmachentrader.de
wirmachentrader.de
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.