Price previously formed a double top, once it equaled to the support line price broke down to create new lows. Multiple Confluence within the 38 level as a target of interest. Support created a 2nd tap with fib levels lining up correctly.
- Support lined up with daily 618 level.
- Drew a fib within a fib (bearish to bullish) and 38 levels sparked an area of interest for a long trade.
- Resistance is lining up from other timeframes with fib levels.
This trade was heavily relied on fibs.
- Support lined up with daily 618 level.
- Drew a fib within a fib (bearish to bullish) and 38 levels sparked an area of interest for a long trade.
- Resistance is lining up from other timeframes with fib levels.
This trade was heavily relied on fibs.