Hey! Thanks for reading.
Now that price is back in the middle of recent activity, I expect it to test the local supply and demand zones.
Green box = demand zone
Red box = supply zone
The blue fib is drawn where the blue price measure is placed, this gives us a 1.272 extension at the top of the demand zone and a 1.618 at the bottom.
The yellow fib channel is placed at the local high and low, following the upper trend line.
Now that price is back in the middle of recent activity, I expect it to test the local supply and demand zones.
Green box = demand zone
Red box = supply zone
The blue fib is drawn where the blue price measure is placed, this gives us a 1.272 extension at the top of the demand zone and a 1.618 at the bottom.
The yellow fib channel is placed at the local high and low, following the upper trend line.
Trade active
open@$59,250Note
Note
Expecting drop to support at $57,161 then bounce to liquidity above $59,800 before continuing the down trend Note
Trade closed manually
looking bullish short term
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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.