Technical Analysis
1. Rising Wedge forming
2. Hit Level 1 of Fibonacci Expansion Level
3. Completion of a Flag Pattern Take Profit (Of the Flagpole breakout) on shorter timeframe smaller timeframes (Circled in WHITE)
4. Market is expected to break out of the trendline, hitting our Fibonacci Expansion Level of 1.618 which would push down the market to an area of confluence
5. Using the new Highest Point from the Fibonacci Expansion Level of 1.618 and Rising Wedge Peak, we would project the fall to the new Fibonacci Retracement Level
How I would approach this.
1. Sell to 127.150
2. Buy from 127.150 to 136.250
3. Sell from 136.250 to 124.270
1. Rising Wedge forming
2. Hit Level 1 of Fibonacci Expansion Level
3. Completion of a Flag Pattern Take Profit (Of the Flagpole breakout) on shorter timeframe smaller timeframes (Circled in WHITE)
4. Market is expected to break out of the trendline, hitting our Fibonacci Expansion Level of 1.618 which would push down the market to an area of confluence
5. Using the new Highest Point from the Fibonacci Expansion Level of 1.618 and Rising Wedge Peak, we would project the fall to the new Fibonacci Retracement Level
How I would approach this.
1. Sell to 127.150
2. Buy from 127.150 to 136.250
3. Sell from 136.250 to 124.270
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.
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.