Kiwi Bounce?

Good day Dynamic Traders,

It was about a week ago when I mentioned the Kiwi on the blog and price was around the 58.22 mark with a bearish engulfing candle. It has since retraced down to 54.91 (low) and is between 2 Fib breather levels. The 240 timeframe shows convergence and the shorter timeframes show a bounce up. What we need to determine is whether this is a premature bounce up or will price hit the next breather level before it resumes it's uptrend. Wait for your confluences of events and endeavour to employ some mechanical method of determining your justification for entry. This is just an early tip for the watchlist!















Good Trading!
Bijal Shah