Setup: Potential start of an hourly downtrend. Hourly downtrend line is being tested at its the third point coinciding with the 50% Fibonacci level, stepping down from the 61.8% level. We enter at the current level with a SL slightly below the 61.8% level and a TP of the 78.6% Fibonacci expansion level.
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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.