Can enter LONG position on current price level since price made a hard bounce from 23.6 Fib level and RSI is above 50 level and pointing upwards.
TP on top of Fib 2 or 78.6 level of Fib 1, depending on the strength of momentum when price nears the TP levels.
SL on the previous Fib level down.
PLAN
When price reaches 78.6 level on Fib 1 and RSI enters overbought area and signs are showing price reversal, can enter SHORT position with the following TP levels:
TP 1: 38.2 level = 0.75900
TP 2: 50.0 level = 0.75770
TP 3: 61.8 level = 0.75630
TP on top of Fib 2 or 78.6 level of Fib 1, depending on the strength of momentum when price nears the TP levels.
SL on the previous Fib level down.
PLAN
When price reaches 78.6 level on Fib 1 and RSI enters overbought area and signs are showing price reversal, can enter SHORT position with the following TP levels:
TP 1: 38.2 level = 0.75900
TP 2: 50.0 level = 0.75770
TP 3: 61.8 level = 0.75630
Comment:
TP 1 and TP 2 reached.
Comment:
TP 3 reached.