Possible end of correction and beginning of uptrend continuation
The price hit 1137. It's 61,80% fibonacci retracement level. In theory that should point out to the end of correction.
Moreover there is Price Action formation called, Bullish Piercing. It's a trend reversal signal.
On the 1h chart, there is RSI bullish divergence.
My main TP target is 1182
Moreover there is Price Action formation called, Bullish Piercing. It's a trend reversal signal.
On the 1h chart, there is RSI bullish divergence.
My main TP target is 1182
Trade active
Unfortunately, my prediction didn't work exactly as I wanted.However my trade is still active. The price retraced to 1137 line and if bulls defend 1132 level they will take an initiative to pull price higher.
Trade closed: stop reached
My SL got triggered.
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Related publications
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.