Dollar still looking weak, retest and failure to break trendline. Previous daily candle rejection off the 0.382 FIB.
Following the break of the previous ascending TL, we saw some short term bearish moves, but failure to close below the 200MA We have since had higher highs and lows created, forming a new uptrend. Looking for a pullback and retest of trendline, 0.618 FIB and 50MA before going long
Break of descending TL Wanting a new higher high and pullback and retest of the TL, 50MA and 0.382
Break of ascending TL, strong wick rejection off the 50MA and 0.382 FIB Forming lower highs
- Higher lows - Break and retest of descending trendline, forming a new uptrend - Rejection of TL, 0.382 and 50MA on 4hr and 200MA on 1hr would be ideal entry for a buy.
Pullback to TL and a nice candle rejection of the 0.618 FIB I'll be looking to go long. If we get break of 0 FIB and restest may be looking for further scale ins.
- Higher high and higher lows - Rejection of TL, 50MA and 0.50 FIB - Broken 50MA on 1hour
- Higher high and higher lows - Break and retest of descending trendline, forming a new uptrend - Rejection of TL, 0.618 and 50MA on 4hr and 200MA on 1hr would be ideal entry for a buy.
Higher high Rejection of TL, 50MA and 0.5 FIB Forming a new area of support
Lower highs Lower lows Rejection of descending TL and 0.382 FIB
HH and HL's Rejections of ascending TL and golden pocket of FIB
Higher highs and higher lows, rejection of trendline and 0.618 FIB
Double top, several rejections of the descending trendline, 0.71 FIB and the 50MA.
Rejection of the resitance area and 0.618 FIB. Still seeing lower highs.
Three rejections of the ascending trendline and rejection of the 50MA and 0.618 FIB
Nice bearish wick rejection on the daily. Dropping down to the 4 hour we have several wick rejections of the descending trendline which lines up with the 0.618 FIB. Seeing lower highs and lower lows