HI all!

Here is my BNB Chart on the 1h timeframe.

I used the Fib lines to mark up my area of interrest. Which means. I am looking for a retracement on the next level. If we break that with a full body candle close i will try to go long. with the marked SL and TP1 which is in the Golden Pocket area

I know in an overall perspective we are in a downtrend this is the reason why i would be very careful. Remember not doing a trade is also a good trade.

Whats also important for me are the yellow dot`s which market my trendline. As you can see the price has been bouncing perfect at the white trendline.

Well yes.  If the price will get rejected and break the trendline with a full body close. I will go for a short. SL is then near the fib level and TP would be the last Low and next TP the next Fib level.

This is just theory and no financical advice

Cheers MC