Expect a reaction at the 50%. This is a very aggressive trade but there is little doubt that Algos will start buying at the 50%. There's a buy zone on the chart that's $150 wide. Not a trade for everyone but a reasonable first entry with smaller size anticipating there might be a second buy if the market heads to the median line and the fib cluster found around it. Risk-reward of approx 11-to-1. I take the 50 always but not all in...
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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.