Hi guys!
As you can see my chart we touched the 7.4K-7.5K range 4 times! You might think that the more time we test a price level, the stronger is becomes, as a support. However the opposite is true. The more time we test a level the higher the chance we gonna break it.
We also made a lower low on the 4H chart, creating a double top formation. Both tops are on the 0.382 fibb level which is acting as a strong resistance.
***It is not a financial advice, it is only my own opinion***
If you liked the analysis please leave a like, and if you have any questions comment below!
As you can see my chart we touched the 7.4K-7.5K range 4 times! You might think that the more time we test a price level, the stronger is becomes, as a support. However the opposite is true. The more time we test a level the higher the chance we gonna break it.
We also made a lower low on the 4H chart, creating a double top formation. Both tops are on the 0.382 fibb level which is acting as a strong resistance.
***It is not a financial advice, it is only my own opinion***
If you liked the analysis please leave a like, and if you have any questions comment below!
Note
Say Hi to Bart.
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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.
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.