I have been watching this pear for a while now, and have noticed a downtrend on the 1M time frame.
The markets keeps hitting the trend line and reversing showing a strong resistance on this trend.
On the 1D time frame the same is happened a downwards trend line has occurred and the price keeps reversing at this resistance.
4H time frame the another lower high has been formed on the trend line and reversed. I entered the trade late as i was asleep but work up to my theory being correct. The price should now move down to the 61.80% Fib line.
The markets keeps hitting the trend line and reversing showing a strong resistance on this trend.
On the 1D time frame the same is happened a downwards trend line has occurred and the price keeps reversing at this resistance.
4H time frame the another lower high has been formed on the trend line and reversed. I entered the trade late as i was asleep but work up to my theory being correct. The price should now move down to the 61.80% Fib line.