Left to right.
Fib 1 is the fib extension we are currently holding with targets for a new low. If you took the 50 fib short and took half off at the 0.382 you could have gotten free 3 times already. This is why I think we will go further up into the sell zone right now. Stoploss of the short is around the 65 level this is exactly where that previous spikey bottom is. So there could be some reaction from that. I will personally look for a break of the 61 and 65 fib levels and then possibly a reversal. Breaks are often a clue a level is giving way soon after that.
Fib 2 is the next swing short which will trade if fib 1 breaks. Previous support will be resistance. Great opportunity to scalp short.
Fib3 is the pullback fib this is a good add on long trade after or before fib 1 breaks
Fib 1 is the fib extension we are currently holding with targets for a new low. If you took the 50 fib short and took half off at the 0.382 you could have gotten free 3 times already. This is why I think we will go further up into the sell zone right now. Stoploss of the short is around the 65 level this is exactly where that previous spikey bottom is. So there could be some reaction from that. I will personally look for a break of the 61 and 65 fib levels and then possibly a reversal. Breaks are often a clue a level is giving way soon after that.
Fib 2 is the next swing short which will trade if fib 1 breaks. Previous support will be resistance. Great opportunity to scalp short.
Fib3 is the pullback fib this is a good add on long trade after or before fib 1 breaks