One of the most popular methods to identify a rebound is by using Fibonacci levels. Typically, rebounds occur within the 38.2%, 50%, and 61.8% Fibonacci retracement levels before continuing in the prevailing trend. If the price extends beyond these retracement levels, it could signal a potential reversal. It's important to note that we use the term "could" instead of "will" when discussing reversals. As you may already know, technical analysis is not an exact science, meaning nothing is certain... especially in the forex market.
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good ideas.Note
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As my prediction, the price is reacting at fibonacci 0.618Note
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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.