Area of Interest
pros
Bullish Daily structure + 4H
-50% Fib level
-possible support level
cons
- Price is rejecting Daily key resistance
- Price had already moved significantly and didn't show clear structure
For entry
limit order at 61.8% fib level
or wait to see bullish price action
e.g price rejecting 50 ema and support level
momentum loss as price created smaller candles
Bullish engulfing candles form to show buying presence.
pros
Bullish Daily structure + 4H
-50% Fib level
-possible support level
cons
- Price is rejecting Daily key resistance
- Price had already moved significantly and didn't show clear structure
For entry
limit order at 61.8% fib level
or wait to see bullish price action
e.g price rejecting 50 ema and support level
momentum loss as price created smaller candles
Bullish engulfing candles form to show buying presence.
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