Where is this rejection leading to?
Here we can see a rejection during this corrective wave on the 38.2% fib, which confluences with the 50% on the RSI. When we can see an oversold RSI parameter where price touches and confirms support on the white trend line than I would be looking for an entry and ride the new impulse cycle. I'll share a new Idea when I see a new long term pattern emerging.
*DISCLAIMER* I'm new to chart analysis since November 2019 and this idea is only for the purpose of sharing ideas -> NOT investment advice,
therefore any feedback from aspiring traders and experts are more than welcome.
Always keep in mind not to enter a trade to soon and remember to take profit along the way.
Stay safe, stay profitable & may the odds be forever in your favor ^^
*DISCLAIMER* I'm new to chart analysis since November 2019 and this idea is only for the purpose of sharing ideas -> NOT investment advice,
therefore any feedback from aspiring traders and experts are more than welcome.
Always keep in mind not to enter a trade to soon and remember to take profit along the way.
Stay safe, stay profitable & may the odds be forever in your favor ^^