Using Fibonacci Circles the transition to a bullish state can be demonstrated as a change from 2.618 to the next outer fib circle 3.618
We can see a bottom and bounce off the uptrend channel and a continuation to a state that includes a bullflag (in green rectangle)
This is a bullish sign, the middle line of the up channel is the nearest resistance
We can see a bottom and bounce off the uptrend channel and a continuation to a state that includes a bullflag (in green rectangle)
This is a bullish sign, the middle line of the up channel is the nearest resistance
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.