Buying setup

٤ ديسمبر ٢٠٢٢

Price broke above 1H structure and currently retesting it, what makes this setup interesting is it incorperates multiple confluences that is tempting enough to take the trade, break and retest of a structure, 0.618 fib level retracement, 20 ema moving average, bullish pennant pattern, morning star candlestick pattern. I expect price will reach the 1.27 fib extention( also 0.618 retracement to the down side) before continue the third impulsive wave to thedown side.