Potential Setup as per the below
Bias – Bullish
Price has finally broken out of the range and pushed up with bullish momentum
Option 1 - Wait for price to retrace back to 50% of the current expansion move before considering a buy.
Option 2 - Wait for price to retrace back to Golden Zone (71 – 78.6 Fib Level) of the current expansion move before considering a buy.
Both the above have added confluence as there are OBs in and around both these regions.
Bias – Bullish
Price has finally broken out of the range and pushed up with bullish momentum
Option 1 - Wait for price to retrace back to 50% of the current expansion move before considering a buy.
Option 2 - Wait for price to retrace back to Golden Zone (71 – 78.6 Fib Level) of the current expansion move before considering a buy.
Both the above have added confluence as there are OBs in and around both these regions.
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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.