after some keylevels and a fibo with channel we have multiple confluences to go short. We have even bearish engulfin which is great sign to
50 or 61 percent of retracement fibo conf keylevel conf trendline conf bullish engulf conf all in about that pair
channel conf key level conf trendline conf fibo conf
after the downside target we can see some sideways on the field.. we have 3 confl that i think are important . 1 keylevel 2 trendline 3 50 percent on the fibo . so in that case i think we can go long
fibo 1.618 conf with res level lower hights price action trend follow trendline not broken
CONF TRENDLINE CONF 61%FIBO WITH OTHER TRENDLINE CONF RES LEVEL
AFTER PERFECT DOWNTREND WE CAN SEE THE FORMATION OF LITTLE DOJOS .THIS USUALY IS A HUGE REVERSAL SIGNAL. CONFLUENCES 1 DOJOS ACT AS RES LEVEL. ANOTHER RES LEVEL WHICH IS ON THE 50 PERCENT OF FIBO RETRACEMENT AS A CONF SIGNAL WE ARE WAITING THE BULLS TO BREAK THE TRENDLINE AND RETEST THE LEVEL AS SUPP.
AFTER THE DOUBLETOP FORMATION. WE CAN SEE THE BREAK OF THE NECKLINE , WE ALSO CAN SEE A RETEST. OUR CONFLUENCES ARE DOUBLE TOP FORMATION BREAKOUT AND THE RETEST AND A TRENDLINE CONFLUENCE AND OUR FIBO. IT IS POSSIBLE EVEN TO BREAK THE TRENDLINE , BUT WE ARE NOT SURE IF THIS WILL BE A BREAKOUT OR A FAKEOUT
after last good 2 weeks of bullish move , we have the fibo conf that the trend will last longer . FIBO 61% CONFLUENCE TRENDLINE CONFLUENCE KEY LEVEL WHICH NOW ACT AS SUPPORT SO THERE IS 75 PERCENT CHANCE FOR LONG POSITION , AS A CONFORMATION SIGNAL I WILL USE THE BREAK OF THE TRENDLINE LEVEL OF THE LAST MOVE