4h:
Market structure still bearish but move up to 46000 makes sense, would give a decent retracement after a harsh sell off, 50 fib, eq, demand zone, daily downtrend all around that area.
1H:
Broke bearish trendline, MS has turned Bullish
Solid demand level lines up with 61,8 fibs, 4H EQ level, broken trendline. Price seems to be running out of steam at the moment, could see it coming back down to this level to gather momentum for the next leg up.
R:R is spectacular at 16:1
Also a strong 5m zone slightly below, setup two trades, 1h zone for 0.5R, 5m zone for 0.25R and 26 R:R.
Market structure still bearish but move up to 46000 makes sense, would give a decent retracement after a harsh sell off, 50 fib, eq, demand zone, daily downtrend all around that area.
1H:
Broke bearish trendline, MS has turned Bullish
Solid demand level lines up with 61,8 fibs, 4H EQ level, broken trendline. Price seems to be running out of steam at the moment, could see it coming back down to this level to gather momentum for the next leg up.
R:R is spectacular at 16:1
Also a strong 5m zone slightly below, setup two trades, 1h zone for 0.5R, 5m zone for 0.25R and 26 R:R.