Confluences:
- Possible 3rd touch of bullish trendline
- Area of resistance could offer support
- Area of possible support falls around the 0.618 Fib level
- Possible touch of the 50 EMA
I'm fairly confident that this trade will come off but it is worth noting that price was recently heavily over bought according to the RSI
I will be waiting for price to retrace to around the 0.618 Fib level and looking for some kind of confirmation before entering to go long
Always use correct risk management
- Possible 3rd touch of bullish trendline
- Area of resistance could offer support
- Area of possible support falls around the 0.618 Fib level
- Possible touch of the 50 EMA
I'm fairly confident that this trade will come off but it is worth noting that price was recently heavily over bought according to the RSI
I will be waiting for price to retrace to around the 0.618 Fib level and looking for some kind of confirmation before entering to go long
Always use correct risk management