Based on historical data, New All Time High level always be dumped approximately 1000pips in the next 2-3 days before continuing the bullish move.
Thus, looking at the current price action; there seems to be potential that Daily candle (18/07/24) will be closed bearish as the trigger for correction move to occur..
Sell area at Fibo 50-61.8; Stop loss above Fibo 0 and first take profit area at Fibo 1618.
Thus, looking at the current price action; there seems to be potential that Daily candle (18/07/24) will be closed bearish as the trigger for correction move to occur..
Sell area at Fibo 50-61.8; Stop loss above Fibo 0 and first take profit area at Fibo 1618.
Note
First target hit! I personally closed my trade at 2444 and it gave me 200pips+.As in my view, we have long way to go.. 2400 area is still possible to be re-visited...
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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.