The previously rally made 61.8 retracement. If the 3.81 is the new higher high, then price could make 61.8 (3.55) or at least 38.2 (3.649). As there is 50 MA confluence in these area, there is a high possiblity of retracement reversal. After rejection the price could move towards 4.1 after making the right shoulder.
On the other hand, if the price's weekly close is above 3.81, then the price could move to 4.1 before making the retracement.
Disclaimer: Tradewith your own responsibility. It is only my idea and not a trade recommendation
On the other hand, if the price's weekly close is above 3.81, then the price could move to 4.1 before making the retracement.
Disclaimer: Tradewith your own responsibility. It is only my idea and not a trade recommendation
Trade closed: target reached
First target reached
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.
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.