Is price bouncing up from lower channel ?
There are 2 scenarios.
If it breaks down from the lower channel, it would test the 618 FIB level and hopefully have a rebound.
If not, it may rebound from the lower channel and heads up.
Notice it is still in a bullish trend in the 4H chart.
Do not short unless you are clear what you are doing and have a strategy for it.
Best of luck to all
If it breaks down from the lower channel, it would test the 618 FIB level and hopefully have a rebound.
If not, it may rebound from the lower channel and heads up.
Notice it is still in a bullish trend in the 4H chart.
Do not short unless you are clear what you are doing and have a strategy for it.
Best of luck to all
Note
the price has hit the 618 FIB level, watch out for possible rebound. Not likely based on current price action, wait and see, no hurry to buy
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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.
Related publications
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.