LuckySalunky asked me for my price prediction on FTM, as I didn't actually have one but do have a small buy in place , I made this chart whilst waiting for my Sunday cooked breakfast!
Here we see the price action from FTM.
It's currently in an area of confluence created by the daily and 4 hrly fibs.
I expect it to retrace to the local.382 fib at around 0.02298 before bouncing back to the 0.02652 area, where it encounters stron resistance from previous market structure.
The top end of this market structure lines up nicely with the golden mean at 0.02947, where I have my take profit.
Hmmm, I smell coffee, by now!
Here we see the price action from FTM.
It's currently in an area of confluence created by the daily and 4 hrly fibs.
I expect it to retrace to the local.382 fib at around 0.02298 before bouncing back to the 0.02652 area, where it encounters stron resistance from previous market structure.
The top end of this market structure lines up nicely with the golden mean at 0.02947, where I have my take profit.
Hmmm, I smell coffee, by now!