From the H4 chart the market is seen to be trending down since May 3rd , 2019. A downward trend line with support and resistance being being respected forming a trending channel. From roof to floor. Around July 18th ,2019 market made its way to the resistance level and saw some correction due to it's impulsive move. Price made it's way back to the s resistance level allowing more traders to get an opportunity before the big drop. Since then the market has been trending downwards with LLs being formed at areas highlighted in yellow. Seems as if the market has retraced to the 50% level as it's acting as a form of resistance. Waiting for a bearish candle pattern or a break of the 1.21487 level to enter for a sell with TP set at -27% extension level.
First time using fib levels lets see what happens and has been making it way down since.
First time using fib levels lets see what happens and has been making it way down since.