Hey all,
Following my previous analysis, we saw that the price hovers around the 0.382% of the drawn Fibonacci.
For me currently is a no trade zone, as the risk out pays the reward, so let´s take a closer look regarding the prices that we can expect on the a breakout, either up or down.
As you can see on the chart, we can expect the following: (this is simple view, not counting the possible points of retrace/support/resistance between these zones.
Break up: 15198 USD
Breakdown: 6388 USD
I will go either long or short, after the retest of the support happens.
Thx all, I am fairly new to TA but highly motivated to learn more each day.
This is not financial advise, is just my personal opinion.
Following my previous analysis, we saw that the price hovers around the 0.382% of the drawn Fibonacci.
For me currently is a no trade zone, as the risk out pays the reward, so let´s take a closer look regarding the prices that we can expect on the a breakout, either up or down.
As you can see on the chart, we can expect the following: (this is simple view, not counting the possible points of retrace/support/resistance between these zones.
Break up: 15198 USD
Breakdown: 6388 USD
I will go either long or short, after the retest of the support happens.
Thx all, I am fairly new to TA but highly motivated to learn more each day.
This is not financial advise, is just my personal opinion.