Rejected off key zone, good shorting oppurtunity, risk:reward 12:1
Hello, guys Here is my trading plan today Waiting this candle stick for confirm downtrend IF it is end of wave B, it will go to wave C (1-2-3-4-5) Waiting for Wave 3 of C (easy trade) IF still go up it can go to 61.8 and 78.6 Trade carefully , I bet first around this price (Fibo=50%)
- Strong Bear Trend Bar - Measured Move Target based on Last Big Bear Spike - Support Below (2 Pink Lines) should act as a magnet
confluence of: 61.8 retrace of last major swing down (A-B) trendline, 100M; and plus zone of 1.272 - 1.618 inverse extension of last minor swing down (1-2) (note the initial bounce right of this 1.272 level) in addition both stochs and RSI are getting into oversold territories