MATIC - Watch This Correction 🤓
In our last Matic analysis, we had a level that we were watching for a reversal, which was the -0.27 fibonacci.
Price hit that level perfectly and struggled to move past that and swiftly came back down. We now have another fibonacci in place to mark out where the correction may end and where the impulse will begin.
The ideal place for entry looks to be 61.8 fibonacci where we also have the channel support.
Look for shorts back to the channel support and then wait for bullish price action before jumping in for the next impulse!
See linked chart for our previous Matic analysis.
Price hit that level perfectly and struggled to move past that and swiftly came back down. We now have another fibonacci in place to mark out where the correction may end and where the impulse will begin.
The ideal place for entry looks to be 61.8 fibonacci where we also have the channel support.
Look for shorts back to the channel support and then wait for bullish price action before jumping in for the next impulse!
See linked chart for our previous Matic analysis.
Trade closed: target reached:
Matic played out beautifully
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