TitleDE30EUR H4 | Potential Bearish reaction off pivot?TypeBearish ReversalPreference:Price is currently in a short-term bullish momentum, and could reach our pivot point at 15993.45, which is at the 50% fibo retracement and 100% fibo projection, before becoming bearish. There is fibo confluence at the pivot point, hence price could react off that area. If price becomes bearish after reacting to the pivot point, price could fall to the 1st support at 15563.69, which is a swing low support and at the 78.6% fibo retracement.Alternative scenario:If price breaks above the pivot point, then price could rise to the 1st resistance at 16226.97, which is an overlap resistance 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.
