US 30 - potential rejection at pivot in Fibo channel.
Updated
Intraday short opportunity ?
PA is testing the pivot of the uptrend channel. With a Fibo channel, we clearly see the oblique resistance lines. The pivot has been rejected twice in the past and then broken with a nice upward movement. But now the PA is again in the lower part of the channel. It has just rejected the pivot again and I expect it to return to the red area, even the grey area if the bearish momentum is efficient.
PA is testing the pivot of the uptrend channel. With a Fibo channel, we clearly see the oblique resistance lines. The pivot has been rejected twice in the past and then broken with a nice upward movement. But now the PA is again in the lower part of the channel. It has just rejected the pivot again and I expect it to return to the red area, even the grey area if the bearish momentum is efficient.
Note
Trend did not go as expected, my post-mortem analysis is that maybe the volume could have given a hint regarding the behavior.
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