This is just a chart idea. This looks like a text book bear pennant. But the market always have a way of surprising me. I am very curious to see how this situation plays out.
The Rsi is low currently.
We are currently sitting at a key level of support.
On the run as a whole, its interesting that the major resistance and support areas of the stages of this run line up with the corresponding Fibonacci retracement levels.
Comment what you think is going to happen in the coming weekly candles.
Thanks for checking out my idea.
This is not financial advice. This is for my record and reference as a hobby trader.
The Rsi is low currently.
We are currently sitting at a key level of support.
On the run as a whole, its interesting that the major resistance and support areas of the stages of this run line up with the corresponding Fibonacci retracement levels.
Comment what you think is going to happen in the coming weekly candles.
Thanks for checking out my idea.
This is not financial advice. This is for my record and reference as a hobby trader.
Trade closed: target reached:
Break to the downside
