Price has been moving to the downside of the daily channel for 2 weeks now. Price last week was stuck in consolidation until price broke to the upside printing a bullish engulfing bar and a lower low on the daily time frame. Price is currently in exhaustion. Looking to capitalize on longs this week as price looks to retrace back up to Fibonacci levels, 61.8% to be the prime target. Looking for confirmation on lower time frame to confirm long entry. Looking for bullish engulfing bar or pin bar as price is to make a mini retrace early this week before heading on up.
My analysis are for educational purposes. My post are not signals! Trade at your own risk. Happy Trading!
My analysis are for educational purposes. My post are not signals! Trade at your own risk. Happy Trading!