Break, Retest, Confirmation with 4H Fib Retracement
Price tested the 4H Support which coincides with an Order Block and 0.5 - 0.618 Fib Golden Zone. Price is in an upward trend. It broke the 4H Resistance too. I think it will retest the 4H Resistance and head towards the Daily high at 161.444. After bullish candle confirmation on the 5 or 15 minute timeframe, I will enter a BUY and target 1:2. TP at 161.44. SL 159.557.
If it breaks and retests the Daily high, it may head to the Weekly Resistance at 163.487. I will follow the above and wait for the retest and confirmation before entering a further Long.
Alternatively, Take Partials at 161.444 and let it run to the next Key Level at the Daily Resistance.
Always use proper risk management suited to your account size. Do not over leverage!
If it breaks and retests the Daily high, it may head to the Weekly Resistance at 163.487. I will follow the above and wait for the retest and confirmation before entering a further Long.
Alternatively, Take Partials at 161.444 and let it run to the next Key Level at the Daily Resistance.
Always use proper risk management suited to your account size. Do not over leverage!
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