Here we had a good Fibonacci retracement trade that we took for just over 3% profit. Starting with the 1 hour timeframe, we have the break and retest of the 50 moving average, we also have deceleration and a number of reversal candles forming giving us a clear indication that momentum in the downtrend is slowing down. Moving up to the 4 hour chart, we can see that 1 hour consolidation we saw created reversal candle on the 4hour chart which was sitting nicely on the 20 moving average, confirming to take this trade long. The daily also gave us solid confluence to look out for buys during the day as it to, had created a reversal sitting nicely on the daily 50 moving average. This trade happened very fast and take profit was hit in just a few hours. Although the price continued to rise, we banked a good 3% on this one trade so we can be happy with this.