Price is currently at a 0.618 fib retracement level, which may be a (B) of an ABC Retracement. If it is the case, Now I expect a bounce offf this trend line and towards C. I would like to see some bullish momentum on the 4H chart before entering the trade.
There is an inside bar formation on the 4H chart, so I will wait for a break and close above that level in order to enter long.
There is an inside bar formation on the 4H chart, so I will wait for a break and close above that level in order to enter long.
Trade active
Trade finally entered at 1.43672Trade active
Stop loss finally stablished at 1.42263
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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.