On the H4 time frame, prices are approaching the resistance zone at 1897.00, which coincides with the 50% Fibonacci retracement and 100% Fibonacci extension. A pullback to this zone could present an opportunity to play the drop to the next support target at 1824.50, which is also the graphical support area and Fibonacci confluence zone. Prices are holding below the Ichimoku cloud as well, supporting the bearish bias.
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.
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.