PRICE TO RETRACE 50% OF THE MOVE FROM THE H1 OB. FINDING RESISTANCE AT MARCH EQ. SOME CONFLUENCE OF PREVIOUS DAY EQ & A REFINED H1 BR (15M BR). MARKET STRUCTURE DOES CONFLUENCE WITH .705 FIB LEVEL AS WELL AS A BREAKER CANDLESTICK, SO PRICE COULD FIND SUPPORT THERE IF NOT 50% FIB LEVEL.
POSSIBLE OUTCOME OF PRICE ACTION - WE COULD SEE IT TRADE BACK INTO THE H1 OB BUT IN MY OPINION THAT WOULD BE A STRONG SELL OFF & IF IT DOESN'T HOLD, CAN SEE PRICE TRADE LOWER.
IF PRICE ACTION IS IN LINE WITH THIS TECHNICAL ANALYSIS, WE COULD SEE PRICE TRADE AT .7066.
POSSIBLE OUTCOME OF PRICE ACTION - WE COULD SEE IT TRADE BACK INTO THE H1 OB BUT IN MY OPINION THAT WOULD BE A STRONG SELL OFF & IF IT DOESN'T HOLD, CAN SEE PRICE TRADE LOWER.
IF PRICE ACTION IS IN LINE WITH THIS TECHNICAL ANALYSIS, WE COULD SEE PRICE TRADE AT .7066.
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