It seems overall we have had a reversal upwards. Price bottomed and strong volume
indicated a reversal. Price bounced off 61.8% fibonacci retracement
level and is now retracing upwards. A good buy opportunity here, if this plays out. UNLESS, The highest point recently is anther reversal or pivot point
, the volume
was huge and price had continued its downward pace there. Either way, this will be a good way to get out of this trade.
Profit target would be 88%, 100% and just in case someone gets greedy, 127%.
If price fails to reach above next resistance level
, trend may be reversed downwards back to bottom, potentiall farther.
Just an idea.