Price has been ranging on the monthly but a downtrend has been created And we have seen strong resistance off of it
So for now I’m going to be monitoring price to see if a candlestick formation can occur Inside the yellow box I have on the chart. And look for a potential short.
Factors of confluence
Price is around the 61.8 of my Fibonacci retrace meant
A strong downtrend trend line is being respected (multiple rejections off of it)
So for now I’m going to be monitoring price to see if a candlestick formation can occur Inside the yellow box I have on the chart. And look for a potential short.
Factors of confluence
Price is around the 61.8 of my Fibonacci retrace meant
A strong downtrend trend line is being respected (multiple rejections off of it)