1.Breakout of descending trend line which shows potential bullish movement
2. If we get a retest of the key price area highlighted another confluence
3. 61.8 fib level has been plotted so if we see rejection off this level that will be the final indication for me to take this trade
NOTE - Coronavirus is causing mayhem in the markets...
Overall Lower Highs and Lower Lows within a nice Descending Structure. Another Descending Channel is now formed within the Higher Time Descending Structure. Anticipating a buy as it reaches the higher timeframe strucuture.
Very strong movements from the get go today, been watching the movements since 22nd Sept.
Decided to jump in with small lots.
Currently learning to chart, so excuse errors - learning the basics of ABCD and support/Resistance.