2 scenarios:
- Red arrows - Retrace to 38.2 fib level, then range to correlation point between trendline and 38.2 fib level, then drop below 142.35/142.55 support area
- Turquoise arrows - Retrace to 50 fib level, then drop and range to meet correlation point between trendline and 38.2 fib level, then drop below 142.35/142.55 support area
Below the 142.35/142.55 support area, price might retrace a bit around the 141.9/142.3 area, then drop again.
TP: 140.4
- Red arrows - Retrace to 38.2 fib level, then range to correlation point between trendline and 38.2 fib level, then drop below 142.35/142.55 support area
- Turquoise arrows - Retrace to 50 fib level, then drop and range to meet correlation point between trendline and 38.2 fib level, then drop below 142.35/142.55 support area
Below the 142.35/142.55 support area, price might retrace a bit around the 141.9/142.3 area, then drop again.
TP: 140.4
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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.