Here I took the trade for 3 reasons,
1 XABCD PATTERN
2 FIBONACCI level 0.618 is at the same level as strong support marked in purple on my chart which is where I set my take profit
3 the price was reaching the point D (the highest one) on the resistance of the descending channel existing since December.
4 RSI shows that the price is running out of steam, indicating a eventual drop
1 XABCD PATTERN
2 FIBONACCI level 0.618 is at the same level as strong support marked in purple on my chart which is where I set my take profit
3 the price was reaching the point D (the highest one) on the resistance of the descending channel existing since December.
4 RSI shows that the price is running out of steam, indicating a eventual drop