Because there so much going on here I didn't use draw my long and and short positions with entry, stop loss and take profits but hopefully the arrows gives you a good picture of the ideas. I moved the week move around for a better view. The 4hr move has already happened so it's going to be a buy for a while before the big drop down...
Still learning and trying out institutional trading. My bias is for a sell, if this pans out well it will mean I'm really getting the hang of this style of trading. Price may shoot down without upward direction. If price breaks 88 fib level, then we may be looking at the opposite direction for a buy.
I am expecting price to bounce off dotted line ( 78 fib level - entry for buy order) or respect the 88 level. Potential to hit all take profits. Price may revise at second TP for a sell - down to last institutional candle.
I am expecting price to bounce off dotted line (entry for buy order). Potential to hit all take profits. Price may revise at second TP for a sell - down to last institutional candle.
