FIB 61.8 REJECTION WAIT FOR A REJECTION IT COULD GO BOTH WAYS. ON THE H1 THERE IS MULTIPLE WICK REJECTIONS. IT COULD GO BULLISH I HAVE MY ALERT SET. I USE FIBS A LOT WITH MY STRATEGY WITH BREAK AND RETESTS.
I WILL WATCH GOLD NEXT WEEK SEE IF IT BREAKS THE KEY ZONES.
My last trade of this week Friday I don’t trade what a week brilliant. This trade was simple break and retest of horizontal line and diagonal line I waited for a great retest.
what a trade i was stopped out with a small loss but jumped in when i saw a wick.
I WAITED FOR A RETEST ON WICK REJECTIONS ON SUPPORT.
LETS SEE IF THIS FORMS A HEAD AND SHOULDERS OR GOES BULLISH. IF IT BREAKS ITS A HEAD AND SHOULDERS BEARISH.
This is a great set up I have seen today. The charts are addictive i could possible see a head and shoulders lets see if it reaches the 51 fib. I look at higher times first and look for patterns. Double tops pin bars or any rejections on the key area.
Normally I don’t trade crypto but looks like I will. A break and retest of a key area.
As my learning and trades are improving i pay more attention on patterns flags and candlesticks. Waiting for a break out on lower time frames. I look at Daily first H4 and H1 for entry on key levels.
We are on the daily time frame watching this pattern. lets wait for more confluences. I have marked two zones potential to enter.
I will take entry only if price comes back to 38 fib or above. wait for more confirmation and rejections on key area.