As expected VRA is correcting here after reaching it's 1.618 fib extension.
Ideally if we could get a bounce either off the 0.618 fib and reclaim the daily OB at 0.068 before the daily close that would be very bullish.
Otherwise we need to look for support at the 0.618 or the 4HR supply/demand zone at 0.06 and wait for confirmation of a move up from there.
Don't panic, these corrections are healthy and normal.
I'll be concerned if we begin to trade below 0.06 on the daily, until I'm bullish af, patient and waiting on the insane gains to come.
Good luck.
Ideally if we could get a bounce either off the 0.618 fib and reclaim the daily OB at 0.068 before the daily close that would be very bullish.
Otherwise we need to look for support at the 0.618 or the 4HR supply/demand zone at 0.06 and wait for confirmation of a move up from there.
Don't panic, these corrections are healthy and normal.
I'll be concerned if we begin to trade below 0.06 on the daily, until I'm bullish af, patient and waiting on the insane gains to come.
Good luck.
Comment:
Rignt now VRA is looing really good, hoping this continues into tomorrows daily close/open.
The 0.382 sits just above daily OB at 0.068, as sated before, we reclaim that on the daily, happy days bullish af.
The 0.5 is just below the 0.618 on this chart, bounce from that, happy days bullish af.
The o.618 retracement fib sits under the 4HR supply demand area at around 0.057, a correction back to these levels would be deep but totally normal and still bullish, just might take a little while longer to get going again but doesn't change my targets.