ok we can see a reversed head and shoulder is forming on 1H time frame along with a double bottom on 15min time frame which is a confirmation for long and on the 0.5 and 0.38 fib level we can spot price rejection we still nedd candle stick confirmation on this to go long but the R:R on this trade is surprisingly well remember the horizontal ray are the target point which you need to move your sl whenever we hit each of them and for stoploss i put it under 0.38 fib level and below the rejection for double bottom pattern so its as safes as it gets
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if you have more questions or opinion on this one please share it on the comment section
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check out our social media and website for more educational content and daily analysis
telegram t.me/fxfortuna
"patience is a key element of success"