It is moving in a medium-term ascending channel, which according to the corrective structure can continue after the pullback to the middle of the channel to the bottom of the 23% Fibo wave before the correction. If it can break 63 cents, it can continue its upward path, but considering the sharp and rapid fall structure, it is unlikely that it can continue its upward path in the short term.
Note
If Fibo closes 61.8 with a green candle, this position is canceled. Because it probably moves to the red box...Note
Fake break and nowNote
Trade closed: target reached
Note
One or more confirmation candles in the range are required to continue.Trade closed: target reached
Continuing the update of the post, after touching the range, it can now have an upswing with the breakdown of the red box area, which has now become support.Refer to the new post.
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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.