It is of my opinion that this market has no reason not to rally to .7500
Price has been rejected by the market at the .38% retracement and shortly there after price failed to make new structure lows as would be expected in this predominantly bearish trend, resulting in a nice sequence of higher lows.
The projected .50% retracement is convergent with the extension of .38% retracement leg AND this conveniently meets at a previous structure low.
Thanks
Price has been rejected by the market at the .38% retracement and shortly there after price failed to make new structure lows as would be expected in this predominantly bearish trend, resulting in a nice sequence of higher lows.
The projected .50% retracement is convergent with the extension of .38% retracement leg AND this conveniently meets at a previous structure low.
Thanks
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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.