- August 11, 2021
- Posted by: Tradingshot Articles
- Category: Forex
Pattern: Bearish Fibonacci Channel on 4H.
Signal: Buy as the price hit the Lower Lows trend-line of the Channel which within July has always initiated a rebound towards at least the 4H MA50 (blue trend-line).
Target: 1.1800 short-term (right below the Channel’s 1.0 Fib and the horizontal 0.382 Fib retracement) and 1.18500 medium-term (right below the Channel’s 1.5 Fib extension which has been the top (Lower Highs) of the Channel so far).