I was thinking before that we entered a new phase of an upward trend, but it looks more like we're just making a small correction to keep the way down.
Once the price hit 0,23 fib retrace of the channel, it bounced and is now keeping its way down to... a lower low (below 39). The money flow was below 50 in the bear range and now that we hit resistance it bounced together with price.
Once the price hit 0,23 fib retrace of the channel, it bounced and is now keeping its way down to... a lower low (below 39). The money flow was below 50 in the bear range and now that we hit resistance it bounced together with price.
Trade closed: stop reached
Note
Fib channel still valid, correction hit 0,5 exactly.
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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.