The recent upward move retraced to the 0.5 Fib level, which is a common bounce zone in trending markets. This strengthens the bullish continuation thesis since price respected the 50% level and bounced, indicating buyers are stepping in.
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.