Hi guys,
here we have a nice 2618 on a trend continuation setup, You can see we broke to the downside the last support level (black line) and now we are retesting it. We know that when broken, support could turn into resistance. In addition price is finding some troubles at this level.
We have a double top with rsi divergence that's been broken to the downside. So we have ultra confiirmation of our analysis.
Now we can exploit the market using the 2618 strategy. I'm going to sell the market if and when price will reach .618 level, stops above the highest high, first target at a retest. Second target down along with structure.
Let's see.
If you have any question, please fill the comment section below.
Otherwise, see you in the next chart!
here we have a nice 2618 on a trend continuation setup, You can see we broke to the downside the last support level (black line) and now we are retesting it. We know that when broken, support could turn into resistance. In addition price is finding some troubles at this level.
We have a double top with rsi divergence that's been broken to the downside. So we have ultra confiirmation of our analysis.
Now we can exploit the market using the 2618 strategy. I'm going to sell the market if and when price will reach .618 level, stops above the highest high, first target at a retest. Second target down along with structure.
Let's see.
If you have any question, please fill the comment section below.
Otherwise, see you in the next chart!
Trade active
Trade closed: stop reached