The market has entered the Correction zone (measured by Fibonacci) for the second time. Because of this, it has broken the 1st Supporting trendline, so the price is in the Fibonacci zone and heading towards the previous swing low.
So, should the market reach the previous Swing low, we should expect a strong reaction with a bounce and order block before we can break...but once the market breaks the Swing low, we will expect a retest as the market will build a momentum before it can do a continuation pattern crashing towards a 3rd touch on a supporting trendline!
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So, should the market reach the previous Swing low, we should expect a strong reaction with a bounce and order block before we can break...but once the market breaks the Swing low, we will expect a retest as the market will build a momentum before it can do a continuation pattern crashing towards a 3rd touch on a supporting trendline!
I will continue sharing free content for all my followers and i will continue engaging with several traders for bettering my trading journey.
So please help support my channel by following me....
Cheers...