Upon closer examination, all the euphoria and excitement chasing the price makes one lose their focus and get confused. Day chart is down, bearish.
1H chart shows a false breakout to attract the late buyers only to return them the favour of a lower price point from their entry. Result = Loss. Now is hovering at the support level of the 50% FIB level, if it breaks above like the previous attempts or disappoints the bulls camp and heads south.
I prefer south for now, how about you?
1H chart shows a false breakout to attract the late buyers only to return them the favour of a lower price point from their entry. Result = Loss. Now is hovering at the support level of the 50% FIB level, if it breaks above like the previous attempts or disappoints the bulls camp and heads south.
I prefer south for now, how about you?
Note
beautifully executed, it touches exactly at the 786 FIB level and rebound. more to come, i expect
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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.