FACTORS OF CONFLUENCE
+ With the overall trend.
+ Retracement into the fib value area.
+ Bottom of ascending channel.
+ Previous resistance level becomes support.
+ Look out for reversal candle patterns to the upside in this area.
(if this week closes with a doji it'll be a great sign of deceleration to the downside and a good clue it's even closer to a reversal.)
If this prediction is correct I will post the 4H chart showing my entry method!
Patience, fellow traders! Have an awesome day!
+ With the overall trend.
+ Retracement into the fib value area.
+ Bottom of ascending channel.
+ Previous resistance level becomes support.
+ Look out for reversal candle patterns to the upside in this area.
(if this week closes with a doji it'll be a great sign of deceleration to the downside and a good clue it's even closer to a reversal.)
If this prediction is correct I will post the 4H chart showing my entry method!
Patience, fellow traders! Have an awesome day!
