Description
⋅ On the above 1-day chart price action has corrected 75% since February. A number of reasons now exist to be long, including:
1) The ‘incredible buy’ signal prints
2) Price action and RSI resistance breakout.
3) Price action is testing significant support / resistance trend line . See 10-day chart below.
4) The target is derived from the Fibonacci extension , just as before. Look left.
Is it possible price action falls further? For sure.
Is it probable? No.
Good luck!
Ww
10-day chart support and resistance
Looks like a falling wedge right now.