- Price broke out of the huge range between June and October
- Created a new structure low in November
- Pushed back and tested the previous support turned resistance
- Has not set a new structure low, but some interesting aspects on price action here
-Price fell back into a range in line with previous support
-After a single day move up to the .5 Fib level, had a huge bearish candle back into the range
-This seems to indicate that the bears are not finished yet
-Would like to see price break the previous structure low, then return and test that same level
This will setup for a RR of 1:3 or 1:4 trade
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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.