Hi all,
After the gap price is seemingly getting back on its feet and is currently consolidating between the 50 and 61.8% daily fibs. I am waiting for a retest of the blue medianline to go long, only if it shows enough weakness. A close above the red median will mean we need to wait for a retest of it. What would be most valueble is a test on the confluence of the red and blue median lines.
I will look for shorts if price closes below the blue median line and the 200 ma. Price is likely to close the gap in that case and reach for the lower parallel line.
Thanks for stopping by and goodluck!
After the gap price is seemingly getting back on its feet and is currently consolidating between the 50 and 61.8% daily fibs. I am waiting for a retest of the blue medianline to go long, only if it shows enough weakness. A close above the red median will mean we need to wait for a retest of it. What would be most valueble is a test on the confluence of the red and blue median lines.
I will look for shorts if price closes below the blue median line and the 200 ma. Price is likely to close the gap in that case and reach for the lower parallel line.
Thanks for stopping by and goodluck!
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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.