Technical Analysis
1. LARGE Expanding Megaphone with Flagpole
2. (Current Market is going down after breaking out of a falling wedge pattern.
3. Using trendline to connect 2 touchpoints we find our 3rd touchpoint sitting on Fibonacci Retracement Level of 0.618 (Golden Zone)
4. Fibonacci 0.618 level is also sitting on structure/key level with 2 support. (Horizontal and Trendline this will give us an area of confluence providing us with strength in the support level)
4. Using Fibonacci Expansion, we can find our potential market take profit level which is also the height of the flagpole.
1. LARGE Expanding Megaphone with Flagpole
2. (Current Market is going down after breaking out of a falling wedge pattern.
3. Using trendline to connect 2 touchpoints we find our 3rd touchpoint sitting on Fibonacci Retracement Level of 0.618 (Golden Zone)
4. Fibonacci 0.618 level is also sitting on structure/key level with 2 support. (Horizontal and Trendline this will give us an area of confluence providing us with strength in the support level)
4. Using Fibonacci Expansion, we can find our potential market take profit level which is also the height of the flagpole.
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.
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.