Fibre long term analysis (thinking out loud) after 16/8/21
Zooming out to the weekly and daily charts shows we caught fibre at the bottom of a weekly and daily range.
Fibre retested a bearish channel top last week and we have the upside movement to show for it. If you were in on time move stops to break even and await a retracement to 1.1650. this is optimal level to put in another long. If she can hold above 1.185 for a while then we can expect her to rise at least to 1.2090.
Maybe even 1.2180 as she forms a higher time frame bearish channel as shown on the upper red line
Fibre retested a bearish channel top last week and we have the upside movement to show for it. If you were in on time move stops to break even and await a retracement to 1.1650. this is optimal level to put in another long. If she can hold above 1.185 for a while then we can expect her to rise at least to 1.2090.
Maybe even 1.2180 as she forms a higher time frame bearish channel as shown on the upper red line
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