lets start with monthly
2 long candles each between 400-500 pips currently the Oct. candle.
tingling between 0.50 & 0.382 fib level
Currently MA 200 is sitting around 1.2370+/-
last high 1.22-
and starting to build a
Hold on to this info
price @ 0.786 fib level
price has broke over MA 200 and confirmed
this move was a retest on weekly chart
this weekly chart MA 200 (1.1700) has proven to be extremely important and strong support
after price broke above the MA 200, 4 times MA200 has rejected this level.
last recent rejection was last week ending up with a on MA 200
Now on the importance of 1.1600+ - 1.1700+ zone it is more obvious now
while we have 3 high and different time frame, fib levels overlapping in this zone.
this level becomes decision zone.
are we breaking this level and going back a re test the 1.05-1.03 for 4th times or we are continuing with bull to 1.50 level?
I am gonna take
16 rejection candles on daily
with 3 daily,weekly, monthly fib level that confluenceing this zone
& with weekly MA 200@ 1.1700
& the 2 doji's on monthly
and the fact that every single bull candle in past -3 month been MASSIVE and POWERFUL
& last but not least divergance in
(there are more reasons but i think i covered the most important ones.
and put my MONEY ON BULLS.