It seems overall we have had a reversal upwards. Price bottomed and strong volume indicated a reversal. Price bounced off 61.8% fibonacci retracement level and is now retracing upwards. A good buy opportunity here, if this plays out. UNLESS, The highest point recently is anther reversal or pivot point, the volume was huge and price had continued its downward pace there. Either way, this will be a good way to get out of this trade.
Profit target would be 88%, 100% and just in case someone gets greedy, 127%.
If price fails to reach above next resistance level, trend may be reversed downwards back to bottom, potentiall farther.
Just an idea.
Profit target would be 88%, 100% and just in case someone gets greedy, 127%.
If price fails to reach above next resistance level, trend may be reversed downwards back to bottom, potentiall farther.
Just an idea.