Two main potentials here in my view (should the market correct that much in the first place that is):
1. .5 - .618 retracement zone becomes demand zone point of reversal
2. A failure of 1 leads to accumulation at a lower level (Cypher pattern)
-Always use a stop
-Trade only with money you can afford to lose
-Be open to multiple scenarios
-It's okay to be wrong about anything
1. .5 - .618 retracement zone becomes demand zone point of reversal
2. A failure of 1 leads to accumulation at a lower level (Cypher pattern)
-Always use a stop
-Trade only with money you can afford to lose
-Be open to multiple scenarios
-It's okay to be wrong about anything
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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.