Title
US30USD H4 | Bullish bounce off 78.6% fibo?
Type
Bullish Bounce
Preference:
Price is approaching our pivot point at 34271.6, which is an overlap support, and at the 78.6% fibo retracement. If price bounces off the pivot point, then price could head towards the 1st resistance at 34592.7, which is a pullback resistance level, and at the 50% fibo retracement.
Alternative scenario:
If price breaks below the pivot point, then price could fall to the 1st support at 34060.3, which is a swing low support level.
To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
Source: Tickmill
