As the bullish movement has slowed down a bit by a rather big bearish candle, I am looking for a smaller bearish retracement.
The first area for a pullback that I am looking for is the 0.786 Fibonacci level. If it doesn't hold the bearish pressure, looking for a pullback towards the indicated support line.
However, this is not the move that I am looking to trade as it is a corrective one because the trend is bullish.
I am looking to trade the bullish bounce off either of the before mentioned levels.
Wishing everyone a happy new year.
The first area for a pullback that I am looking for is the 0.786 Fibonacci level. If it doesn't hold the bearish pressure, looking for a pullback towards the indicated support line.
However, this is not the move that I am looking to trade as it is a corrective one because the trend is bullish.
I am looking to trade the bullish bounce off either of the before mentioned levels.
Wishing everyone a happy new year.