Timeframe: 1H
Confluences: Price broke a bearish market structure on the 1H time frame, and successfully retested the broken TL. Now it has made a higher high, and is pulling back. It is showing signs of a bullish rejection from the golden fib zone. This retest also matches up with a BRC of the previous high. On the daily chart, we also see a pretty bullish rejection candle of a 78.6% bullish fib area, and a possible bullish TL.
Confluences: Price broke a bearish market structure on the 1H time frame, and successfully retested the broken TL. Now it has made a higher high, and is pulling back. It is showing signs of a bullish rejection from the golden fib zone. This retest also matches up with a BRC of the previous high. On the daily chart, we also see a pretty bullish rejection candle of a 78.6% bullish fib area, and a possible bullish TL.