As I closed my previous TRX trade, I'm now eyeing the blue area for a possible reversal. Patience is key here!
The blue range resides around the 0.886 retracement, and acted as a strong demand zone for the greater part after the ATH correction. A couple of key areas here as well; the top of the blue box is the weekly close, and on the bottom is the monthly low.
The red range indicates a S/R area.
Note that prices can always break this level, where possible support may be found at 355, or ultimately around 315. I find this scenario rather unlikely, but you never know:)
The blue range resides around the 0.886 retracement, and acted as a strong demand zone for the greater part after the ATH correction. A couple of key areas here as well; the top of the blue box is the weekly close, and on the bottom is the monthly low.
The red range indicates a S/R area.
Note that prices can always break this level, where possible support may be found at 355, or ultimately around 315. I find this scenario rather unlikely, but you never know:)