Ok Here is my take:
Note:
1. Previous retracement .5 Fib level strongly rejected 2 touches (did not reach .618)
2. bounce up did not pass previous High (929 Sat)
3. rejection @ 860 resistance
Possibilities
1. bounce @ new .5 fib level (800 range)
2. Bounce at 1:1 extention of first retracement wave
3. Brake below previous love 720 Sat will indicate further downtrend
4. My re-entry Break above 870 Sat as this will indicate strength and Higher high
Note:
1. Previous retracement .5 Fib level strongly rejected 2 touches (did not reach .618)
2. bounce up did not pass previous High (929 Sat)
3. rejection @ 860 resistance
Possibilities
1. bounce @ new .5 fib level (800 range)
2. Bounce at 1:1 extention of first retracement wave
3. Brake below previous love 720 Sat will indicate further downtrend
4. My re-entry Break above 870 Sat as this will indicate strength and Higher high
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Related publications
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.