So I have figured that the market respects the fib levels looking at the previous rally.
I marked my projection based on elliot wave theory. The 1.618 is the target of the long, for now I will be looking to short the potential 1st wave getting on the retracement (2). It is worth to point out that the momentum is still on the bears' side.
RSI and MACD on lookin' short
I marked my projection based on elliot wave theory. The 1.618 is the target of the long, for now I will be looking to short the potential 1st wave getting on the retracement (2). It is worth to point out that the momentum is still on the bears' side.
RSI and MACD on lookin' short
Note
something messed up, chartshot here Trade closed: target reached
boom baby, long nowNote
getting out of the long, bulls feel very week and having regards to H4 i feel like shorting
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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.