- On the smaller timeframes we can see price successfully following the fib retracement to extension scenario. Breaking through the huge WEEKLY double bottom, and having a close that respects the -161.8 extension level. We also have a potential 50EMA REJECTION on the 1H.
However , there is a question arising: Is this the reversal point for a bigger retracement on this pair , or just an intraday RETEST of the -61% / huge weekly low, before the index moves even further below?
I will be closely monitoring this area, waiting for the required candle closures and if i see the desired rejection , i could open a very small risk short trade to catch the downside. Otherwise, waiting for a bigger retracement to the upside by entering after a break and retest somewhere.
However , there is a question arising: Is this the reversal point for a bigger retracement on this pair , or just an intraday RETEST of the -61% / huge weekly low, before the index moves even further below?
I will be closely monitoring this area, waiting for the required candle closures and if i see the desired rejection , i could open a very small risk short trade to catch the downside. Otherwise, waiting for a bigger retracement to the upside by entering after a break and retest somewhere.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.