See Signposts for key price action details. Targeting just 1-1.5 R here since we expect price to slowly drift higher after this sharp selloff. The target may change if the uptrend ends up being stronger than expected.
Note
Pretty decent move, but I think it's time to cut it. I don't like the idea of holding this throughout the weekend. This is a bit counter-trend so we might expect further downside next week. Much better to consider closing and re-opening in the following week.
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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.