SRM is likely to give us an opportunity here and its a matter of waiting for a bullish candle or bullish formation on the smaller timeframes, at this fib level or possibly lower (hence we are looking for bullish signs).
The 4 or 8 is a good time period, although many time periods show good convergence.
Lets see how this turns up, keep stalking.
Cheers, S.Sari
4 HRLY chart, in confluence with the 21 EMA and fib level
Note
On the smaller time frame, we can have this within the 4 hrly or 8 hrly candle. We want to see what takes place in this window, bullish formation or bearish?
Note
I got stopped out and missed this entry, went to bed after the dump. Those who got in earlier would not be stopped out. If I was to re-enter, I will look for this. However the market is all over the place so shorting will increase.
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