IN THE FIRST FIB LEVEL WE HAVE USED HIT THE 50% MARK AND SHOWN REJECTION OF THIS AREA.
I WOULD LIKE TO SEE THE BEARISH MOMENTUM COMEDOWN LOWER TO THE 1.04840 MARK WHICH WILL HIT OUR SECOND TARGET TO COMPLETE THIS BAT PATTERN WHICH IS ETWEEN 38.2-50%
FROM HERE I WOULD LIKE TO SEE A STRONG BULLISH MOVEMENT TO THE 88.6 LEVEL. IF WE DO SEE THIS, THIS WILL COMPLETE OUT BAT PATTERN. FURTHERMORE IF WE DO N0T, THIS SET WILL NO LONGER BE VALID.
WE HAVE ALSO BROKE A BULLISH TRENDLINE AND RETEST IT, THEREFORE THE TREND COULD CONTINUE BEARISH, WHICH WOULD MEAN OUR SET UP IS NO LONGER IN PLAY.
I WOULD LIKE TO SEE THE BEARISH MOMENTUM COMEDOWN LOWER TO THE 1.04840 MARK WHICH WILL HIT OUR SECOND TARGET TO COMPLETE THIS BAT PATTERN WHICH IS ETWEEN 38.2-50%
FROM HERE I WOULD LIKE TO SEE A STRONG BULLISH MOVEMENT TO THE 88.6 LEVEL. IF WE DO SEE THIS, THIS WILL COMPLETE OUT BAT PATTERN. FURTHERMORE IF WE DO N0T, THIS SET WILL NO LONGER BE VALID.
WE HAVE ALSO BROKE A BULLISH TRENDLINE AND RETEST IT, THEREFORE THE TREND COULD CONTINUE BEARISH, WHICH WOULD MEAN OUR SET UP IS NO LONGER IN PLAY.