Updated

VELO Bounce on 0.5

Could lead to retest 0.618-0.886 locally, ideally upper trendline, before continuing lower

Once triggered 0.886, 1.272 comes right as next target.

Dip below 0.5 and instantly continue descent

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Trade closed: target reached

it might go a bit higher but really expect it to tank at least once more and re-test the uptrend channel too

Note

As long as local 0.886 holds it could go from here and break the red channel

If it dips below, next buy zone would be local 1.272 / major 0.618 confluence.

if the orange trend is lost, see you much lower, major 0.886

Note

bouncin here off 0.886, if it drops below 0.886, immediate follow through to 1.272

Note

price has not yet managed to break trend, so caution.

if 0.382 doesnt hold, 0.618-0.886 will be next, if 0.886 fails, then the lower 1.272 major box

Note

0.886 has hold (so far) and we got a bounce. has to break trend next or it will probably fail to hold 0.886 on next try

Note

violate 0.886 another time, which increases likelyhood of 1.272 unless it goes sharp up from here

Trade active

got the bounce in the zone

Note

knew I had seen that kind of triangle and breakdown before, not my favorized outlook, but similiarities are nice

NastyBeer

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NastyBeer

Also on:

Related publications

VELO ITs TICKING

by NastyBeer