Swing high making higher highs, looking for a short term retrancement down to the 61.8%-78.6% Fibonacci zones. Predicting a bounce back up to the main bearish trend line formed from previous Higher Lows.
2 Fib zones are highlighted:
2 Fib zones are highlighted:
- Green zone is based on the 4H at a longer term projection
- Blue zone is looking at the 1H shorter term projection
Note
Triangle was broken and dropped down to the blue fib zone, expecting either a lower drop down to the green zone or a bounce back from the blue zone to the confluences at the main Chinese dragon trend lineNote
61.8% on the Green Zone reached, looking for a reversal towards the Chinese-Dragon trendlineNote
Huge manipulative spike upwards after the 61.8% Green Zone Fibonacci level reached
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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.