The 10/15 candle closure printed a completed IDF, so I've no bias on this timeframe.
Mapping out the Weekly Fib levels from a swing high that I view as the most significant. Partly because it is the most immediate swing high with an obvious (and violent) swing low preceding it. The 0.5 Weekly Fib lines up nicely with the Daily level at 1.10628. For this reason, this zone is of interest to me. I've set alerts here.
Mapping out the Daily Fib levels from the extreme low to the most recent high we can see that price has tapped the 0.382 level. This level also has an untested high pre-break just beneath it lining up nicely with the 20 period ATR. For this reason, I've set alerts at this zone as well.
Will check in later.
Mapping out the Weekly Fib levels from a swing high that I view as the most significant. Partly because it is the most immediate swing high with an obvious (and violent) swing low preceding it. The 0.5 Weekly Fib lines up nicely with the Daily level at 1.10628. For this reason, this zone is of interest to me. I've set alerts here.
Mapping out the Daily Fib levels from the extreme low to the most recent high we can see that price has tapped the 0.382 level. This level also has an untested high pre-break just beneath it lining up nicely with the 20 period ATR. For this reason, I've set alerts at this zone as well.
Will check in later.
Note
Price traded through and closed below the upper zone past High side ATR for the 2am and 3am candles. I was not paying attention at this time (I live on the East Coast of the US, so I was asleep) luckily we didn’t get any price action that I would have liked to trade. We’ve just printed another hammer but this ones got virtually no room to the left, so I wouldn’t trade it either. This could be a nice time to pre-empt a liquidity pool draw above our Daily level of 1.10628. For now, I’m sitting on my hands.
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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.