Sometimes a longer term view provides better perspective.
Revised E-Wave view on Day Timeline
Could bounce here at Fib .382, but RSI, MAC and Stoch all still point down and .618 fib is a common retrace = $128.05 bounce point
If we start up at 128, I'll go long for a short term (<2 week) trade.
Another possible scenario is the 137.97 mark is a double top and we drop. Breaking above $138 would be bullish. Breaking below 123 gets very bearish.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
Revised E-Wave view on Day Timeline
Could bounce here at Fib .382, but RSI, MAC and Stoch all still point down and .618 fib is a common retrace = $128.05 bounce point
If we start up at 128, I'll go long for a short term (<2 week) trade.
Another possible scenario is the 137.97 mark is a double top and we drop. Breaking above $138 would be bullish. Breaking below 123 gets very bearish.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.