📈 Description:
Price is currently testing a key ascending trendline on the 4H, sitting just below the 38.2% Fib retracement after rejecting near the 0% level. I’m watching this area closely for either:
✅ A bullish bounce from the 38.2%–50% zone with confluence from EMA 20 and trendline support — targeting 0% then -27% extensions (around 21,750 to 22,200),
or
❌ A clean break and close below the trendline + 61.8% level that could shift short bias toward deeper Fib zones like 78.6% or even 100%.
Indicators Used:
• EMA 20 / EMA 68 for dynamic S/R
• Fibonacci retracement (swing low to recent high)
• Trendline (4H structure support)
🧠 I’ll wait for clear structure before entering — no early entries here. Looking for a strong engulfing candle, MA crossover, or lower-timeframe breakout confirmation depending on the direction.
📍Will update if we get confluence on the 15min/1hr to support entry.
Price is currently testing a key ascending trendline on the 4H, sitting just below the 38.2% Fib retracement after rejecting near the 0% level. I’m watching this area closely for either:
✅ A bullish bounce from the 38.2%–50% zone with confluence from EMA 20 and trendline support — targeting 0% then -27% extensions (around 21,750 to 22,200),
or
❌ A clean break and close below the trendline + 61.8% level that could shift short bias toward deeper Fib zones like 78.6% or even 100%.
Indicators Used:
• EMA 20 / EMA 68 for dynamic S/R
• Fibonacci retracement (swing low to recent high)
• Trendline (4H structure support)
🧠 I’ll wait for clear structure before entering — no early entries here. Looking for a strong engulfing candle, MA crossover, or lower-timeframe breakout confirmation depending on the direction.
📍Will update if we get confluence on the 15min/1hr to support entry.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.