Two trend lines form a rectangle and this could be the point for the next big move in price. Approximately, fibonacci time zones predict the next big move at the same time.
It could be up move, forming XABCD pattern and shooting to the new highs.
Also it could be big drop, breaking nearest support level at 185.
It could be up move, forming XABCD pattern and shooting to the new highs.
Also it could be big drop, breaking nearest support level at 185.
Comment:
Looks like the up trend is broken. I took a short at 212.8. RSI confirm down movement and there is a confirmation in a moderate volume spike. Looking for an exist at 183 level.
Trade closed manually:
Price has difficulty to pass local support at 203. Close manually taking 3% gain.
Comment:
Retook shot after passing 203 level.