At first glance this might seem like quite confusing, let's break it down for you!
We have several key levels in price marked on the chart.
We have identified the 1.40, 1.41 and 1.42 key psychological whole levels.
We have a Fibonacci drawn to highlight a potential long entry. Drawn from the swing low to the swing high, you can see the potential long entry has been highlighted after rejection from the 0.5 Fib level.
Use Fibs in confluence to optimise your trade entries.
Price is approaching the highs around 1.4164, we're expecting some rejection at this level before a potential reversal.
Hope this helps!
We have several key levels in price marked on the chart.
We have identified the 1.40, 1.41 and 1.42 key psychological whole levels.
We have a Fibonacci drawn to highlight a potential long entry. Drawn from the swing low to the swing high, you can see the potential long entry has been highlighted after rejection from the 0.5 Fib level.
Use Fibs in confluence to optimise your trade entries.
Price is approaching the highs around 1.4164, we're expecting some rejection at this level before a potential reversal.
Hope this helps!