Update from previous idea:
Should have been posting this bigger time frame chart more often but it is a rather boring chart due to waiting on large timeframe plays happening, but I looked at it last night to see that we have perfectly tested this trend line which is mental.
so we have seen 2 tests of this level and so far holding it as support which is actually really good, it is good to zoom out when everything is looking bad.
next target for me is holding the 0.5 fib retrace which we are currently seeing a rejection below, keep in mind these are 12 hour candles so we have around 4 hours left on this one, plenty of time for a big move.
we are also hoping to see a W reversal here which has been drawn out, there are several bullish indicators here and we have bounced nicely off of the support level obviously if this line breaks then we are looking at the 0.236 level at 3273 but that us absolute worst case scenario.
Should have been posting this bigger time frame chart more often but it is a rather boring chart due to waiting on large timeframe plays happening, but I looked at it last night to see that we have perfectly tested this trend line which is mental.
so we have seen 2 tests of this level and so far holding it as support which is actually really good, it is good to zoom out when everything is looking bad.
next target for me is holding the 0.5 fib retrace which we are currently seeing a rejection below, keep in mind these are 12 hour candles so we have around 4 hours left on this one, plenty of time for a big move.
we are also hoping to see a W reversal here which has been drawn out, there are several bullish indicators here and we have bounced nicely off of the support level obviously if this line breaks then we are looking at the 0.236 level at 3273 but that us absolute worst case scenario.
