we have a 4H descending channel breakout which formed a strong support (double bottom) , the two circles. Our fib rejected "the golden area" 0.5 and most importantly the 0.618, from there I caught my buy opportunity.
That area built up strong support as well, rejecting the broken channel. from the tight buildup starting from the DB a new respected up trend formed causing a squeeze. My "area of interest" is a strong resistance, curious to see what happens there. ( I expect a bullish breakout.) to 2.168 and retest 1.618
That area built up strong support as well, rejecting the broken channel. from the tight buildup starting from the DB a new respected up trend formed causing a squeeze. My "area of interest" is a strong resistance, curious to see what happens there. ( I expect a bullish breakout.) to 2.168 and retest 1.618