The trend line has successfully broken and waiting for a retest at some point.
#1 It might bounce back after retesting the previous higher high.
#2 Or it might fall to the 0.618 fib level.
#3 whichever is stronger will retest and bounce back.
#4 There's a high chance of retesting the 0.618 fib level.
Here's why.
* Moving averages running close to the 0.618 support level.
* 4h Momentum shows there's a downforce that may end up in breaking the previous higher high.
Happy Trading!
#1 It might bounce back after retesting the previous higher high.
#2 Or it might fall to the 0.618 fib level.
#3 whichever is stronger will retest and bounce back.
#4 There's a high chance of retesting the 0.618 fib level.
Here's why.
* Moving averages running close to the 0.618 support level.
* 4h Momentum shows there's a downforce that may end up in breaking the previous higher high.
Happy Trading!
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