US30USD H4 Time-Frame

4 juin 2019

We waited for the anticipated retracement as stated in the previous analysis. Daily timeframe Fibonacci level 38.2 has been reached, now that we step down to the H4 timeframe we can see more clearer picture of the retracement with Fibonacci drawn. Price stop right on our 61.8 level. Now its just a waiting game to see which level will hold. We got confluence at 120% level which is a stop loss level.

Also we got confluence at our -61.8 level our second target right on our monthly key level support 24,000. Now our H4 120% stop loss level is our daily Fibonacci 100% level. Now if price reaches the H4 Fibonacci level 120% keep in mind that that's only our daily Fibonacci level 100% and price can still fall.

Hope this wasn't too confusing. If you have any comments or questions please feel free to do so.

5 juin 2019

Note

Good morning traders here with a quick update on the current price. So as previously stated on the 1D US30USD chart break down price has reached our 61.8% fib level where we have confluence with our daily resistance zone 25500.

We should keep a close eye here a this is an important level for either or break or continuation.