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This setup is based on the Monthly fibo that will bounch off the 0.382, its impulse correction impulse strategy.
Looking at the Monthly, Weekly, and Daily timeframe for the direction and 4H for the entry.
Weekly while on the uptrend there is a red candle that I marked the 50% from wick to wick which is also near the 0.382 of the fibo. My entry is based on the strong numbers 80-65 where I placed my entry at the 80 and my stop loss is a new pips below the last candle (around the 50% fibo of the weekly)
Entry: 32800.0
Take Profit: 36576.6
Stop Loss: 32385.9
NOTE: This is my own technical analysis while learning forex, if it plays out then i'm happy if not then will look at what happened why it didn't play as i marked it and to learn more.
~FX_SHIFTER
This setup is based on the Monthly fibo that will bounch off the 0.382, its impulse correction impulse strategy.
Looking at the Monthly, Weekly, and Daily timeframe for the direction and 4H for the entry.
Weekly while on the uptrend there is a red candle that I marked the 50% from wick to wick which is also near the 0.382 of the fibo. My entry is based on the strong numbers 80-65 where I placed my entry at the 80 and my stop loss is a new pips below the last candle (around the 50% fibo of the weekly)
Entry: 32800.0
Take Profit: 36576.6
Stop Loss: 32385.9
NOTE: This is my own technical analysis while learning forex, if it plays out then i'm happy if not then will look at what happened why it didn't play as i marked it and to learn more.
~FX_SHIFTER