Hi Everyone
I am waiting at sideline for a breakout to happen either up breaking 1852 or down breaking 1819.
Uptrend started at 1617 and has paused at 1959. It is riding a correction wave downwards from 02 Feb. The cross up of 1852 (fibonacci 0.236) will tell us a V shaped cup pattern is getting started. Unless 1852 is crossed up don't enter a long position.
if it breaks 1819 downwards then it means short lookout has more edge. Next short target is going to be 1749 (fibonacci 0.618).
Note
still validNote
FIBO 0.236 at 1842 on retracement wave must be crossed to consider opening long positionNote
Opened LONG position @ 1846 !Note
StopLoss @ 1827. Long position is closed..Trade closed: stop reached
Neutral until NFP news upcomingTrade active
Very obvious short squeeze occured @ 1900 whipsawing sellers.Trade active
Targets are still valid : 2078 (fibo 0.786 of Wave 3)
2152 (fibo 1.0 of Wave 3)
2366 (fibo 1.618 of Wave 3)
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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.