we have run into a fibonacci confluene ratio for ucad where the downtrend has forced upon 3 retest of its breakout. we are in that 3rd retest and can look for this market to finally reverse. market has been showing divergence on the retests ever since the breakout.
we are getting a very good reversal setup on lower tf. going long somewhere between current price and my yellow box PRZ. stochastic showed oversold. RSI shows divergence.we got a higher high and EMAs are crossing. we also have some nice wicks rejecting lower prices.
David K Giraldo
