After a swing failure pattern, SLP went into an 8 month long corrective wave pattern as you can see in the above given chart which ended with a 4x rally last month.
1) A daily close above 0.0195 can give you an entry. 2) A daily close below 0.01733 can get you out. 3) Stochastic has crossed up. 4) Accumulation and/or contraction zone is about reach a break point (based on volume) 5) Very high 24hr trading volume (see on CMC)
Targets can be seen as 0.618 the green box and further extension levels.
I have the feeling that your FB retracement is misplaced. The retracement from the 0.0409 HH today is between the 61.80% and the 78,60% of FB and is testing multiple times a demand zone that acts as support which is already fragile and weak.
groveguy
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@BCiaSB, couldn't entirely get your point, its a wick to wick bearish retracement and within the contraction there is a falling channel as well. The main resistance though is 50 Sma so a daily close above it gives the entry at 0.0195 and the break of the momentum will happen if a daily closes below 0.0173. Right now its in NTZ (no trade zone). The trade can be taken once there is a close above the channel.
BCiaSB
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See? I trust you understand now what my point was.