After a parabolic ~48% run up to the upside after the dump in march, we seem to have rejected at the 75$ level, which coincidentally coincides with the 0.75 Fibonacci extension level. From the different point of contacts dating back to Septermber 2018 we can safely establish that as a strong resistance and a safe area to place a short.
I expect price to either reverse or continue to the downside at the golden pocket which is why im putting my take profit at the 0.65 extension target of 69$. I'm leaving myself a comfortable stop loss placed at the top of the candle to be safe but am pretty confident we will continue to the downside if this 4H candle closes below 75$. Cheers and goodluck!
Feel free to share your thoughts :)
I expect price to either reverse or continue to the downside at the golden pocket which is why im putting my take profit at the 0.65 extension target of 69$. I'm leaving myself a comfortable stop loss placed at the top of the candle to be safe but am pretty confident we will continue to the downside if this 4H candle closes below 75$. Cheers and goodluck!
Feel free to share your thoughts :)
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.