This is a tricky one. We may need some catalyst to confirm a couple theories.
I will go Long if the price holds up above the 50% retracement and short if it goes down. Price target for the short trade is 110.35 is indicated by the green line.
Price target for a long trade will be at 61.8% or even at $110.79. But as you can see the RR will be poor. Hopefully a market catalyst presses the price down as the price is under the 50 EMA
I will go Long if the price holds up above the 50% retracement and short if it goes down. Price target for the short trade is 110.35 is indicated by the green line.
Price target for a long trade will be at 61.8% or even at $110.79. But as you can see the RR will be poor. Hopefully a market catalyst presses the price down as the price is under the 50 EMA