- Price was in an upward channel and broke the trendlines. Price then fell to a strong previous support and resistance zone.
- At that resistance zone, price rejected that zone and has now reached another support/resistance zone>
- at this current resistance zone, i expect a rejection of this zone for a continuation of bearish momentum
- the resistance zone lines up perfectly with the 0.618 Fibonacci zone level, which acts as added confirmation
Let me know your thoughts below
- At that resistance zone, price rejected that zone and has now reached another support/resistance zone>
- at this current resistance zone, i expect a rejection of this zone for a continuation of bearish momentum
- the resistance zone lines up perfectly with the 0.618 Fibonacci zone level, which acts as added confirmation
Let me know your thoughts below