So the last deep retracement to 202.78, was inside the Golden zone on the H4 timeframe
this was of sorts also the confirmation of the lower end of the bull flag, as the H4 candle body closed inside the channel border.
this was a text book bounce from inside the golden-zone (50-61fib), and if one fib's the zone, the wick, was a perfect rejection off the 61fib
lastly, the channel seems true, as the 13th Dec wick, was again a perfect rejection off the channel ADR (middle line)
this was of sorts also the confirmation of the lower end of the bull flag, as the H4 candle body closed inside the channel border.
this was a text book bounce from inside the golden-zone (50-61fib), and if one fib's the zone, the wick, was a perfect rejection off the 61fib
lastly, the channel seems true, as the 13th Dec wick, was again a perfect rejection off the channel ADR (middle line)
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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.