After observing market structure on the daily time frame, I noticed how the market has done a WIDE break and retest(in my darkened zone), followed by 2 higher highs. As you can see near price 1.20365 area, price has tested and rejected twice on the daily and 3 times on the 4H time frame. So I pulled out the fib and price rejected the .786 giving me even stronger confluence. Im expecting price to potentially reach 1.22390. If price breaks and retests that area im expecting it to reach target 2 which is 1.23460.
On the other hand. If price breaks and retests structure area 1.20365-ish, breaks bullish trendline, AND breaks and retests my daily support zone(my darkened zone) I would THEN expect price to go bearish LONG TERM to the outter trendline area 1.10250-ish before potentially going bullish once again.
*This is just my personal opinion. This is not financial advise as I am NO financial advisor.*
On the other hand. If price breaks and retests structure area 1.20365-ish, breaks bullish trendline, AND breaks and retests my daily support zone(my darkened zone) I would THEN expect price to go bearish LONG TERM to the outter trendline area 1.10250-ish before potentially going bullish once again.
*This is just my personal opinion. This is not financial advise as I am NO financial advisor.*