The price action has reached strong resistance zone and failed to close above it, followed by a bearish inside bar / bearish piercing candle. The price action has previously retraced from the sane resistance zone 3 times. Therefore, the price may retrace and retest the bottom of the range.
Therefore drawing Fibo. Retracement tool on the last leg, once can identify three strong support zones as targets;
1- 38.2% FR
2- 50% FR
3- 78.6% FR
Protection at HH created on the 10th of Feb 22.
Therefore drawing Fibo. Retracement tool on the last leg, once can identify three strong support zones as targets;
1- 38.2% FR
2- 50% FR
3- 78.6% FR
Protection at HH created on the 10th of Feb 22.
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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.