21.07.2022 10:15 AM
On the H4, with price moving in an ascending trendline and above ichimoku indicator, we have a bullish bias that price will rise from our 1st support at 0.06682 where is in line with the 50 % fibonacci retracement to the 1st resistance at 0.07318 in line with the 23.6 % fibonacci retracement and swing high support. Alternatively, price may break the support structure at the 1st support and drop to the 2nd support at 0.06173, which is in line with the overlap support and 78.6% fibonacci retracement. Trading Recommendation
Entry: 0.06682 Reason for Entry: 50% fibonacci retracement
Take Profit: 0.07318
Reason for Take Profit: 23.6% fibonacci retracement
Stop Loss: 0.06173
Reason for Stop Loss:
overlap support and 78.6% fibonacci retracement.
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