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BOLT Testing 38% Fibs: Falling to 78% support or Mooning 2.5x???
Thank you again Dubby McGee for the suggestion!
We are testing the 38% fib level as support with the previous structure already. However, if we reject the zone as support the next test would be the 78% fib which is also the neck line of these W-patterns (aka previous structure). be patient and wait for confirmations or run the risk of shooting yourself in the foot. Keep stop loss tight on this one as the fall to the next test zone is steep.
GOOD LUCK TRADERS!
We are testing the 38% fib level as support with the previous structure already. However, if we reject the zone as support the next test would be the 78% fib which is also the neck line of these W-patterns (aka previous structure). be patient and wait for confirmations or run the risk of shooting yourself in the foot. Keep stop loss tight on this one as the fall to the next test zone is steep.
GOOD LUCK TRADERS!
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