Countertrend long after heavy selling
Updated
We are still in downtrend, but still a lot of buy orders residing in the blue demand-area. Expect 50% FIB- rally from last high-low, followed by pullback to demand-area and then explosive upward move to upper supply.
Note
I think I will use TradingView as my journal. I will do my analysis and backtesting and post every analysis as an idea here. I am not sure if I can upload several images, but if so, I can update my analysis in steps.
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.