Potential for Bearish Momentum
Preference:
On the H4, with price moving below the ichimoku cloud, in a descending trendline and in a descending trend channel, we have a bearish bias that price will drop from the pivot at 0.61776 in line with the 38.2% fibonacci retracement to the 1st support at 0.60848 in line with the 161.8% fibonacci extension and 78.6% fibonacci projection.
Alternative Scenario:
Alternatively, price may reverse off the pivot and rise to the 1st overlap resistance at 0.62492 in line with the swing high and 78.6% fibonacci projection
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
On the H4, with price moving below the ichimoku cloud, in a descending trendline and in a descending trend channel, we have a bearish bias that price will drop from the pivot at 0.61776 in line with the 38.2% fibonacci retracement to the 1st support at 0.60848 in line with the 161.8% fibonacci extension and 78.6% fibonacci projection.
Alternative Scenario:
Alternatively, price may reverse off the pivot and rise to the 1st overlap resistance at 0.62492 in line with the swing high and 78.6% fibonacci projection
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
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