This 4-hour chart of EURUSD highlights potential Fair Value Gaps (FVGs) that could act as strong areas of support and possible reversal zones. Price action is currently trending within a descending channel, with three possible bullish scenarios outlined:
1. A breakout from the upper boundary of the channel leading to an immediate bullish move.
2. A retracement into the first FVG zone, followed by a reversal upward.
3. A deeper retracement into the second FVG, aligned with the 0.618-0.65 Fibonacci retracement level, before a strong bullish rebound.
Keep an eye on these levels for high-probability trade setups. Patience is key!
1. A breakout from the upper boundary of the channel leading to an immediate bullish move.
2. A retracement into the first FVG zone, followed by a reversal upward.
3. A deeper retracement into the second FVG, aligned with the 0.618-0.65 Fibonacci retracement level, before a strong bullish rebound.
Keep an eye on these levels for high-probability trade setups. Patience is key!
Trade active
A bounce from the first FVG?
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bit.ly/4lBeTXt
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MY LINKS
📈 Free Signals
bit.ly/3YxiRXr
💬 Discord Community
bit.ly/4jHHA3O
💵 Favorite Exchange
bit.ly/4lBeTXt
📈 Free Signals
bit.ly/3YxiRXr
💬 Discord Community
bit.ly/4jHHA3O
💵 Favorite Exchange
bit.ly/4lBeTXt
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.