2 possible situations that can take place
we are currently in a uptrend. the red bar pattern is a guideline for a break of trend to the downside to the 70% on the fib retracement.
the green bar pattern is a guide to the upside and for it to continue the uptrend to retest at the 100% level on the fib retracement.
support zones are at 70% and at 50% for swing trading
resistance zones is at 100% and regression trend line as well as moving avarage with a 59 period
please do comment if i have missed anything and i will add it
we are currently in a uptrend. the red bar pattern is a guideline for a break of trend to the downside to the 70% on the fib retracement.
the green bar pattern is a guide to the upside and for it to continue the uptrend to retest at the 100% level on the fib retracement.
support zones are at 70% and at 50% for swing trading
resistance zones is at 100% and regression trend line as well as moving avarage with a 59 period
please do comment if i have missed anything and i will add it
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.