Reasons
- Higher timeframe premise is bearish
- Power of Three: bearish accumulation occurred around bullish candle prior to the last big move down
- Reaching the low of that candle we arrive at the 78.6 OTE retracement
Note
NOTE TO SELF: Must keep in mind the 61.8% retracements count too. Stop focussing too much on the 70.5 and 78.6
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.
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.