Looking at the 2hr timeframe ,
As we can see , price is in the uptrend market ,
we have seen a push to the upside and price was on the consolidation for quite a while,
and price is showing another strong push to the upside with broken out of the resistance and reached all time high ,
so what we can expect right now is retest back to the structure or to the support before we take our long position for this uptrending market ,
we dont want to look for short position or fight against the trend ,
as you can see by using fibonacci retracement from the swing low to high , we can expect price rejects to the 61.80% for the safest entry , lines up nicely with the demand area .
let me know your thoughts on this analysis ,
give it a like or comment if you like this idea .
As we can see , price is in the uptrend market ,
we have seen a push to the upside and price was on the consolidation for quite a while,
and price is showing another strong push to the upside with broken out of the resistance and reached all time high ,
so what we can expect right now is retest back to the structure or to the support before we take our long position for this uptrending market ,
we dont want to look for short position or fight against the trend ,
as you can see by using fibonacci retracement from the swing low to high , we can expect price rejects to the 61.80% for the safest entry , lines up nicely with the demand area .
let me know your thoughts on this analysis ,
give it a like or comment if you like this idea .
