On Monday's Open, Price has dipped towards the 4H Support level which has confluence with the Institutional Level 1.088 and ended up closing as a strong Hammer Formation above the EMA 200 and SMA 50. With price previously forming a HH on the Institutional level 1.10000 and has since continue to retraced lower towards 1.08800 region which is the 4H Fib 62 Bounce, this could potentially form a new HL for a leg higher.
Although price is currently in a consolidation, my overall bias is Bullish on this pair and will be looking for a potential Long setup on the lower TF if I have enough confluence.
Bias = Bullish
Structure = Consolidation
Setup = 4H 62 Bounce, Looking for lower TF setup
Although price is currently in a consolidation, my overall bias is Bullish on this pair and will be looking for a potential Long setup on the lower TF if I have enough confluence.
Bias = Bullish
Structure = Consolidation
Setup = 4H 62 Bounce, Looking for lower TF setup
