The reason behind it is following confluences:
1. FIB 0,618 retracement ;
2. Weekly 50 EMA support;
3. Weekly demand zone.
1. FIB 0,618 retracement ;
2. Weekly 50 EMA support;
3. Weekly demand zone.
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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.