FIB's @ Trend crossingOne thing I really try to avoid is too much clutter and colors on my charts. You'll start over analyzing, getting lost in all the extras with colors, and ending up with trade block or FOMO. But for learning purposes it helps show what I'm looking for.
Here with the FIB run high to low crossing a primary and a secondary trend line you can see where reversals or break outs tend to happen the most. I don't look for up or down necessarily. I'll explain: What I want to know is if the entry and exit is at a beneficial area. We're here to make money after all and we do that by assessing the risk/reward.
Afer a little practice and some back testing I hope you'll start to see it clearer without the visual aids. Or at least draw it then delete it.
Without looking at the price or the ticker this is something you'll start to see on every chart. Support/resistance and trends. But none of that will ever work in your favor if you switch up mid-trade or take risk beyond the parameters. I'd get in here very cautiously on the 5min and 15min with a tight stop for either direction you're trading. For all I really know it'll go sideways again but at least we'll have stronger S/R to go off of when it does and a small loss if it stops out trying.
Can't win em all but you don't have to lose everything to learn that.
