A confirmation candle has closed further confirming this setup.
divergence and a trend-line break has occurred on the H4 time frame.
Price failed to close below the middle on the weekly time frame.
I will post H4 and weekly point of views in the comments below.
SL set below the new support formed at the 61.8% level.
I expect price to easily rally through resistance at the level/previous highs.
TP set at the body high of the previous rally. 1:4 risk to reward ratio.
I have entered at the open of the 10/9 candle. I have now moved SL to break even and I have added to my position after the close of the confirmation candle.
This week I am expecting a close above the middle (20 ) on the daily, and a on the weekly time frame.
H4 Time Frame:
Exactly as expected, broke through and closed above the middle Bollinger Band on the daily time frame and a bullish engulfing candlestick pattern formed on the weekly time frame.