1. The green inverted hammer candle created during this session is still moving inside the previous bearish (red) candle limits which a false evidence for up-trending the prices (bulls attack).
2. The price will touch the support zone @61.8% level around $94.2x then according to traders performance prices will rebound from this level to first limit in upper resistant zone @78.6% level or going down for corrections @50% level to perform a new HL point above $92.9x before continuing the bullish journey.
Case (1): The price penetrates the 61.8% level in the downwards direction to test around 50% level @ $93.5x (X-region) where corrections are performed a HL point created which will be considered as an entry bullish point.
Case(2): Whether the prices will rebound directly from 61.8% level or after down penetration journey as explained in case(1), the price will touch the first limit in the resistant (red) zone @78.6% limit on $95.2x. Direct rebounding from 61.8% is the entry point and formation of HL point below 61.8% is the other entry point.
Remark:
For safe trading lets generalize the entry point to be at any point between resistance or supporting zone after existing the 61.8% level @ price greater than $94.5x.
Case(3): Where prices will fluctuate at Y-region in the resistant zone below 100% level @ $96.5x. Trader can select their enough exit point at this region and decide if their trade for today is enough or to continue the journey to upper levels. The decision is depending on political news from UN, EU, and meeting results between Russians and Ukrainians. This will be long trend with open end and exit decision must be taken just-in-time.
Case(4) Prices would break the 100% level and profits would be collected below the $98.xx.
Case(5): Prices reaches the extreme level @161.8% on price limit $100.xx. This limit is dream-able for today but might be achievable on start trading tomorrow in case price will get closed over $97.xx where bears will be active to sell and collect the previous day profits.
Tools used in analysis are BB indicator, ZigZag ++, Fib pattern, and RSI indicator
2. The price will touch the support zone @61.8% level around $94.2x then according to traders performance prices will rebound from this level to first limit in upper resistant zone @78.6% level or going down for corrections @50% level to perform a new HL point above $92.9x before continuing the bullish journey.
Case (1): The price penetrates the 61.8% level in the downwards direction to test around 50% level @ $93.5x (X-region) where corrections are performed a HL point created which will be considered as an entry bullish point.
Case(2): Whether the prices will rebound directly from 61.8% level or after down penetration journey as explained in case(1), the price will touch the first limit in the resistant (red) zone @78.6% limit on $95.2x. Direct rebounding from 61.8% is the entry point and formation of HL point below 61.8% is the other entry point.
Remark:
For safe trading lets generalize the entry point to be at any point between resistance or supporting zone after existing the 61.8% level @ price greater than $94.5x.
Case(3): Where prices will fluctuate at Y-region in the resistant zone below 100% level @ $96.5x. Trader can select their enough exit point at this region and decide if their trade for today is enough or to continue the journey to upper levels. The decision is depending on political news from UN, EU, and meeting results between Russians and Ukrainians. This will be long trend with open end and exit decision must be taken just-in-time.
Case(4) Prices would break the 100% level and profits would be collected below the $98.xx.
Case(5): Prices reaches the extreme level @161.8% on price limit $100.xx. This limit is dream-able for today but might be achievable on start trading tomorrow in case price will get closed over $97.xx where bears will be active to sell and collect the previous day profits.
Tools used in analysis are BB indicator, ZigZag ++, Fib pattern, and RSI indicator