On the H4, price has pushed through the 1st Support at 1554.03 where the previous swing low sat. Price has also pushed through the second support at 1276.99 where the 138.2% Fibonacci extension lies. Price could possibly head back up to the second support for retracement and then head lower.
Trading Recommendation
Entry: 1276.99
Reason for Entry: Retracement sell entry at the previous swing low and 138.2% Fibonacci extension line area
Take Profit: 1005.25
Reason for Take Profit: Previous swing low area from 13th July 2022
Stop Loss: 1412.2
Reason for Stop Loss:Previous swing high
