Grape trend indicator is telling us to stay short from about the $515 level, and we're watching GRIB for a reversal at resistance, or a break out to what will likely be more sideways. The Yellowish bat is the weaker of the two, having only a .37 'B' point retracement of the XA move. Bat patterns require a .382 or a .50 fib level retracement of the XA leg. The Red bat has a solid .50 'B' point and is where I'll be looking to get long with a smaller position on this trade. TP @ next structure resistance $494.
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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.