price failed to hold that trend line support. currently looking to retest that 0.5 fib line.
bullish: if it bounces off that fib support, rallies, and then closes above that trend line, it might be the end of retracement. look for long opportunities.
bearish: if price melts down that 0.5 fib level (next short-term support is the lower trend line), possible trend reversal to the downside.
either way, manage your risks, set stop loss. good luck!
bullish: if it bounces off that fib support, rallies, and then closes above that trend line, it might be the end of retracement. look for long opportunities.
bearish: if price melts down that 0.5 fib level (next short-term support is the lower trend line), possible trend reversal to the downside.
either way, manage your risks, set stop loss. good luck!