A channel formation can be seen on the 1D chart.
Price has bounced off the upper channel, moved downwards and is now retracing back up
Entered 1/2 position the 0.618 RETRACEMENT OF XA, set a limit order for 1/2 position at the 0.786 RETRACEMENT OF XA
Fib level coincide with structure levels and RSI divergence has occurred! Perfect example of my ideal entry! Excited to see how this trade plays out!
Price has bounced off the upper channel, moved downwards and is now retracing back up
Entered 1/2 position the 0.618 RETRACEMENT OF XA, set a limit order for 1/2 position at the 0.786 RETRACEMENT OF XA
Fib level coincide with structure levels and RSI divergence has occurred! Perfect example of my ideal entry! Excited to see how this trade plays out!