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Price is right at the support level where I'd really like to see the bounce to the upside. The reason I like it is because of the nice Fibonacci retracement support here, along with the major moving averages which could act as a support. Whilst we approach it, we must explore the possibility that the level will fail (This is just common sense of trading) and explore another possibility if we're going to assume there'll be a bounce.
Price is right at the converging moving averages and the Fibonacci retracement support levels right now, and had this fail, there is another logical position to search for a bounce, and that will be the next structure support, of the structure drawn on my chart. Once price hits the top of the structure, this is the next level to be looking for the bounce.
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
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Thank you for your support.
Price is right at the converging moving averages and the Fibonacci retracement support levels right now, and had this fail, there is another logical position to search for a bounce, and that will be the next structure support, of the structure drawn on my chart. Once price hits the top of the structure, this is the next level to be looking for the bounce.
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
I never ask anything from my supporters, but I do have a small favour to ask of you guys... If you see comments in the comments section that are trolling/insulting to me, or any other person who's contributing to the comments section, then please Flag/Report their comments right away so we can get rid of people that aren't contributing to this site in a good way. Let's work together to make this site a better place for everybody. :-)
Please leave a LIKE and FOLLOW. I'd really appreciate it.
Thank you for your support.
Note
Price is to flat out shortly, and then we can tell if price will bounce at the first support level or not. If price breaks the first support, then we know exactly where to look. :-)Please leave a LIKE. I'd really appreciate it.
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