We can see multiple elements which leads me to this conclusion, starting off with Fibbonaci, we can clearly see it has been rejected multiple times. We have already gone up by ~1.2% today and it might need some relief. I believe we will see it get rejected at 0.382 Fib Level. We can also see that it has failed the upwards trend-line.
I believe it is either going to bounce off the lower Fib Level or the parallel channel, but I would wait for next wick to print for entry.
If you have any questions feel free to ask me down in the comments or on telegram linked in my signature.
cheers,
tonite
I believe it is either going to bounce off the lower Fib Level or the parallel channel, but I would wait for next wick to print for entry.
If you have any questions feel free to ask me down in the comments or on telegram linked in my signature.
cheers,
tonite
Comment:
It has broken the trendline but remains sideways. There is a resistance that we have bounced off lightly.
It has broken the trendline but remains sideways. There is a resistance that we have bounced off lightly.
Comment:
We're heading towards 0.5 but we remain weak
Trade closed: target reached
We should carefully watch if it breaks this trendline