Slightly different set up to my usual way of trading but this looks to be a nice short-term buy to get into. I normally prefer a higher timeframe trade on the 4hr and daily chart as it shows a much bigger picture of how price is doing.
However, on the 1hr we can clearly see this is currently a bullish run up. We have broken a nice level of rejection and now price has pulled back allowing us to add in a fib. You can see the 50% fib lines up almost perfectly with this rejection level giving us a good indication that price should react off this level and continue it's run.
If you have any questions, drop me a message.
However, on the 1hr we can clearly see this is currently a bullish run up. We have broken a nice level of rejection and now price has pulled back allowing us to add in a fib. You can see the 50% fib lines up almost perfectly with this rejection level giving us a good indication that price should react off this level and continue it's run.
If you have any questions, drop me a message.