After the main Change of Character price seems to be engaging into a 5 staged impulsive wave.
The broken area which caused the character change, was also a very important support level for lower time frames.
Currently it's on wave 4 which is a great opportuinty to take short position.
Use Fib retracement levels to understand where it might reverse through downside. Currently, it's in an important zone (0.38 level). This retracement might extend through %50 fib level at max. Whereever it decides to go downwards, the target is same and marked on the chart.
Good Luck.
The broken area which caused the character change, was also a very important support level for lower time frames.
Currently it's on wave 4 which is a great opportuinty to take short position.
Use Fib retracement levels to understand where it might reverse through downside. Currently, it's in an important zone (0.38 level). This retracement might extend through %50 fib level at max. Whereever it decides to go downwards, the target is same and marked on the chart.
Good Luck.
Trade active
Trade closed: target reached
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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.