Nice reaction of 0.618 as expected, lets see if price will react from the market structure level for a continuation short
We have come to a significant level for a swing trade short. Multiple confluences that line up
Break below market structure level. Need a retest of market structure and then short down to each target. Need todays D1 to close below this level to confirm shorts.
Price is stuck at the 61.8 fib level and also tapped into a wick zone. Looking for price to drop back to the market structure level and also a 3rd tap on the trend line which also lays on a fib level before continuing long. We could expect a stop hunt before we see this move.
Still needs time to play out, waiting for a 3rd tap on the bearish trend and a close outside of the current range
Watch Cad/Swissy tomorrow for potential longs. Predicted the retracement early this morning from the wick zone. We could see price move to 0.75000 before taking off.
If we break above the H1 Trend then we can look for longs. Price hasnt closed below the previous swing but has wicked below trapping short positions.
Break of Bullish trend, break of wick zone, 3rd tap H1 bearish trend.
Wait for a stop hunt of the current accumulation phase onto the bearish trend which will be a 3rd tap for a short.
We have come to a significant level with multiple confluences for long trades
We have had a 3rd tap on the D1 Bullish trend line and also broke above the H4 Bearish trend line. In the picture posted i have marked out what we could expect on a lower timeframe for a more precise outlook. I am expecting accumulation until tomorrow where we could see a pullback to the H1 Bullish trend which will also line up with the 61.8 Fib level. Be aware...