Hi Traders,
Price bounced of the 0.328 fib level of the daily impulse. Due to the momentum of this move, it is possible that price may be continuing the upward trend to test the top of the impulse again or even make a move to the 0.27 fib level. Additional confluence is the long wick on the last 4HR candle. There is a high probability that the next candles will fill in the wick.
Please perform your own trade analysis and practice proper risk management. Feel free to like this idea and leave a comment.
Price bounced of the 0.328 fib level of the daily impulse. Due to the momentum of this move, it is possible that price may be continuing the upward trend to test the top of the impulse again or even make a move to the 0.27 fib level. Additional confluence is the long wick on the last 4HR candle. There is a high probability that the next candles will fill in the wick.
Please perform your own trade analysis and practice proper risk management. Feel free to like this idea and leave a comment.