Following the break of the major trendline, we saw a retest of the major trendline, previous structure, 100EMA and the 50% fibonacci which made it a high probability short! We are now approaching a key level where price has the potential to reverse.
The key are to look at is the $15 level where we have previous structure. If price bounces continues to correct towards the double bottom area, it will be highly likely that we'll bounce from there. Also keep an eye on the descending trendline and monitor it for a break!
The key are to look at is the $15 level where we have previous structure. If price bounces continues to correct towards the double bottom area, it will be highly likely that we'll bounce from there. Also keep an eye on the descending trendline and monitor it for a break!
