Fib retrace, setup for reversal long term argument for longs
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The fib level retracement from the double top highs of April and June 2018 indicate resistance at 16.1 area, roughly on par with the fib level there. Also shown is the resistance level at 14 in September - November. It failed to reach that low in May.
If it makes the 0.5 fib level at 15.7, it should continue upward toward 16.1
If it makes the 0.5 fib level at 15.7, it should continue upward toward 16.1
Ghi chú
An extended stay between 14.5 and 16 will give more argument to a longer term bull trend formingGhi chú
The first leg of this long has been hit and I've taken some profit, waiting on possible pullback to buy in to second leg to 16.1Giao dịch đang hoạt động
Price Action has not supported an immediate run up, opened a short position until indicators change to determine if it will run up to 16.1.Short term short target 15.3 down to lower resistance of 14.8
Ghi chú
Well, that was quick. Currently feeling the burn of the short -- should have stayed true to what was originally mapped out here
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