As we see in this chart Fib level 0.5 is a strong resistance and pushes the price back to 0.382 fib level.
0.382 fib level is a support for price and we see it works and keeps the price so in my opinion there is a good chance that price comes up and after breaking 0.5 fib level
test the 0.681 fib level so i provide a long set up with SL on 1.60610 and two TP first on in 0.5 fib level (1.7198) and second one in 0.681 fib level (1.78972)
I Highly recommend Trailing Stop!
0.382 fib level is a support for price and we see it works and keeps the price so in my opinion there is a good chance that price comes up and after breaking 0.5 fib level
test the 0.681 fib level so i provide a long set up with SL on 1.60610 and two TP first on in 0.5 fib level (1.7198) and second one in 0.681 fib level (1.78972)
I Highly recommend Trailing Stop!
Note
it hits SL
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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.