Long entry here with target at 25.5k. We bounced nicely off of the ichimoku cloud on the 1hr chart, broke above previous resistance and are establishing support there now. Is the next leg up coming or is this fakeout? thoughts?
How to Use Fib Retracement:
For a downtrend, select a significant swing high and drag to a later significant swing low
For a uptrend, select a significant swing low and drag to a later significant swing high
Fib Retracement levels can be used to identify potential targets after a breakout to the upside or downside.
In this example, I used 2, the one the...
