All is on chart, just watching to see if we get a candle to close down and outside of the channel/trendline.
Simple fibs for possible targets.
Simple fibs for possible targets.
Note
Note
Pulled back to 50% of yesterday's drop before continuing a bit. We'll have to see how daily candles complete but so far short continues. Hourly with pullback fib:
Note
Bounced to 61.8% retrace of last drop.Note
Note
Still save in the overall channel. This bull has proven strong. But being cautious.Note
Approaching 2835 at 88% retrace and watching for PA. Will hedge if needed...Note
We reached Fib target of 88.6% yet RSI could see it go higher but IF wave (iii) is complete then we are pulling back to form wave (iv). Now, forth waves can go outside of the hourly channel so don't let that scare you and will still be in the weekly channel shown on top. Watch for invalidation if it pulls back under ~2740 area (the point of wave (i) on weekly for larger concern. Note
Note
Done with downward move or testing the breakout for more drop?Note
Note
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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.