1. the price crossed the bottom line of the yellow channel, recently retested it and is bouncing there.
2. the purple line which is a powerful S&R line has been turned into the resistance line.
3. the white line is the 0.382 fib retracement of the wave XY.
>>>these three are intersected at the elliptic zone and made a strong area, in which short is expected.
2. the purple line which is a powerful S&R line has been turned into the resistance line.
3. the white line is the 0.382 fib retracement of the wave XY.
>>>these three are intersected at the elliptic zone and made a strong area, in which short is expected.
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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.