Confluence:
FIb retracement hit was .786 so TP is at 127% Fib extension level (.77194) , which is still in the ascending channel.
127% fib extension is in confluence with the weekly resistance.
Bullish candle bounced off ascending channel leg , which acts like a form of support.
Use trailing stop to have a risk free trade.
Hope this helps you.
FIb retracement hit was .786 so TP is at 127% Fib extension level (.77194) , which is still in the ascending channel.
127% fib extension is in confluence with the weekly resistance.
Bullish candle bounced off ascending channel leg , which acts like a form of support.
Use trailing stop to have a risk free trade.
Hope this helps you.