Confluence:
- Daily Up-Trend broken
- Impulsive move to the downside
- Rejection of 38.2% fib level
- Currently making a corrective pattern (Slow Down in momentum)
Confirmation:
- Break and retest of corrective pattern
- 1hr candle stick formation
- Looking for that momentum shift
Targets:
- 1.115 which is the monthly low.
- Daily Up-Trend broken
- Impulsive move to the downside
- Rejection of 38.2% fib level
- Currently making a corrective pattern (Slow Down in momentum)
Confirmation:
- Break and retest of corrective pattern
- 1hr candle stick formation
- Looking for that momentum shift
Targets:
- 1.115 which is the monthly low.