Getting this chart up for a long entry at $45.41, based on the 50% retracement holding at $44.68. Based on the prior scorching downtrend, really wanted to make sure that this held first.
*My fib retracement tool is reversed to show extension levels*
Take profit: $49.33
Stop loss: $43.75
Floor trader pivot gave support on S1 at around $42.50-$43. Someone pointed out to me that the larger month-based floor trader pivot has S1 marked at right about $45, creating multiple support levels across multiple time frames (always the best trades to take).
I am always starting on the macro 1w and 1d charts before drilling down into the 4hr, 1hr, 30min charts. Oversold conditions for a while now, and some other qualitative factors make this a viable short-term long entry.