the USD pairs as been choppy with no clear direction, but now we can be sure which direction to trade.
after the previous impulse move we got the necessary correction, now price got to 0.382 fib level which was in confluence with a resistance zone and also using a channel you will see that price respected it. we cant just trade off it without confirming which direction market might go next, things change now since there is a counter trendline break and also a break of structure to the downside.
we will use a break and retest strategy to enter the trade on 4hr
after the previous impulse move we got the necessary correction, now price got to 0.382 fib level which was in confluence with a resistance zone and also using a channel you will see that price respected it. we cant just trade off it without confirming which direction market might go next, things change now since there is a counter trendline break and also a break of structure to the downside.
we will use a break and retest strategy to enter the trade on 4hr
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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.