After a strong Bearish run, price has reached a FZ(flip Zone) near Fib 78.6 of last up swing which also coincide with a RBR. The current H8 candle(which has yet to close) is showing sign of strength with its upper wick extending beyond the last 2 candles. When such price action happens near a important structure, it usually signify a potential reversal. Will be looking for confirmation to go LONG to target Fib 61.8 of the last down swing which is the previous support(clearer on the D1 chart)
DISCLAIMER: Any opinions, analyses discussed in this presentation are just my personal opinion and do not constitute investment advice. I do not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
PRICE ACTION only tell half the story. The other key half is VOLUME. For VOLUME drive price.
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As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.