H4 : Clouds support zone in this time frame should be seen as the KEY SUPPORT ZONE.
Indeed, this area coincides with both 38.2% Fib ret @ 54614 and 50 % Fib ret @ 52401;
the bottom of the clouds being currently around 52300
In addition, the bottom of the uptrend channel is also under attack and a failure
to stay inside of this channel would also a be a bearish signal, calling for lower levels.
Watch carefully price action on shorter time frames (H1 and M15)
Indeed, this area coincides with both 38.2% Fib ret @ 54614 and 50 % Fib ret @ 52401;
the bottom of the clouds being currently around 52300
In addition, the bottom of the uptrend channel is also under attack and a failure
to stay inside of this channel would also a be a bearish signal, calling for lower levels.
Watch carefully price action on shorter time frames (H1 and M15)
