there are a few levels I want to look at, firstly lets look at the fib, key level to establish is the 0.5 which unfortunately we have seen resistance and failed to break. in order to look we need to see a break and retest of the 0.5. hopefully we see support at the 0.414/0.382 level. failing that you can see there is a load of nice support underneath that, will speak about them later.
I also want to look at the more towards where we are now, you can see just above us there is a huge level creating mega resistance. this will be a struggle to get over but hopefully we can slowly get above the green lines here at 4137 flipping it as support which is extremely for me. the inverse of that is right at my 0.414/0.382 we have a spike which should help us if price starts to come back down.
Spoke about come targets breaking above these green lines then hitting the golden pocket breaking that would be amazing. checking the worst case you can see the thick green line at 3838, that is one of the most essential levels for me, It has been so reliable so if we come down around these levels strong support here is likely, dropping below that have a strong accumulation box down to the 0.236 (3753), at this point things won’t look great but I can’t see price breaking these levels, I would expect a or reversal formation. go for long position with SL below my support box keep it tight and probability is high to see some upside.
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