Classic buying retracement strategy. Price runs into a 61,8% Fib resistance right at minor swing resistance levels.
The previous swing low "break down" (pink support lines) indicates an intact downtrend.
As of statistics I assume a 25% chance of profit and a 35% chance of loss. With a 2,5:1 Reward to Risk Ratio its a good deal.
The previous swing low "break down" (pink support lines) indicates an intact downtrend.
As of statistics I assume a 25% chance of profit and a 35% chance of loss. With a 2,5:1 Reward to Risk Ratio its a good deal.