TFUELUSDNice uptrend on log chart for TFUEL. Small pullback to test recently broken fib should lead to the next rocket.
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Nice run for TFUEL since my entry around 5.5centsFeels like it could be running out of steam in this heavy resistance area.. I've closed my position at the 1.272 fib which was my initial target, with the expectation of a decent retrace from here, will keep an eye on it for signs of breaking the 1.414 fib & flipping it to support
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Looking at the fibs with a different tool (Fib retracement) rather than trend based fib extensions, There could be some further room up towards that '2' fib around 70cents however the Risk/Reward for me isn't warranted from here
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Seems to be stuck between both a temporary support & a heavy resistance..
Using a fib channel alongside the trend-based fib extensions, you can see that TFUEL is pretty much in a make or break moment, watching for a break up for confirmation of a next leg up or the potential loss of the '1' fib channel support that's been holding it
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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.