WE HAVE BOUNCED OF THE 50% FIB BUT GOT A LOWER LOW ON THE 2 HOUR.
THERES IS 3 POSSIBLE SCENARIOS:
1. WE HIT THE POINT OF INTEREST ON THE DOWNWARD TREND AT AROUND 13.50 AND GO BACK DOWN.
THIS CONFIRMS NEW DOWN TREND.
2.WE HIT 14.00 AND WE KEEP THE PAST CHANNEL ON A BULLISH TREND.
3. WE BREAK ALL CHANNELS AS BEFORE AND WE RETEST THE PREVIOUS HIGHS AT 15.00-
GOOD LUCK!
THERES IS 3 POSSIBLE SCENARIOS:
1. WE HIT THE POINT OF INTEREST ON THE DOWNWARD TREND AT AROUND 13.50 AND GO BACK DOWN.
THIS CONFIRMS NEW DOWN TREND.
2.WE HIT 14.00 AND WE KEEP THE PAST CHANNEL ON A BULLISH TREND.
3. WE BREAK ALL CHANNELS AS BEFORE AND WE RETEST THE PREVIOUS HIGHS AT 15.00-
GOOD LUCK!
Trade closed: target reached
Closed trade at 13.00. Looks like down trend starting
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Related publications
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.