I've had a lot of success trading these 'magic fibo' numbers.
IF the price comes up to test the 61.8% retracement (~129.895) of recent down move, test it, fails to break through, reverses, we have a pretty, pretty good look here to make a high probability swing trade down.
We are looking to IDEALLY take profit at ~127.337.. I felt that volume profile was showing me some pretty good support around that area, so I drew a pretty large 'take profit' box. I'll be looking to take profit anywhere in that area.
250 Pips if it works!
I'll update with more info if I find any.
IF the price comes up to test the 61.8% retracement (~129.895) of recent down move, test it, fails to break through, reverses, we have a pretty, pretty good look here to make a high probability swing trade down.
We are looking to IDEALLY take profit at ~127.337.. I felt that volume profile was showing me some pretty good support around that area, so I drew a pretty large 'take profit' box. I'll be looking to take profit anywhere in that area.
250 Pips if it works!
I'll update with more info if I find any.
Trade closed: target reached
Got damn close on this one!Trade closed: target reached
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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.