Price has made higher highs and lows on the 4hr timeframe and has now broken a descending . I will be looking to go long on the next 4hr higher low which lines up with a bounce.
Fib 0.618 lines up with both intersecting so this could be a high probability set up. There is also the 4hr 50ema in that region acting as an extra support.
Profit target is set just below the Fibonacci level at 148.500
This gives a trade R:R of over 5:1