The blue channel's median line offered support 3 times (green arrows), but now it appears to be broken. Further the ABC correction appears to be still in play within the red downward channel
RSI dropped below 50 again!
Targets are either the
greenbox which is the blue channel floor and 0.5 fib retracement OR
bluebox which is red channel bottom and 0.618 Fib
RSI dropped below 50 again!
Targets are either the
greenbox which is the blue channel floor and 0.5 fib retracement OR
bluebox which is red channel bottom and 0.618 Fib
Comment:
First target box hit
Comment:
After an unsuccessful attempt to breakout of the red channel, we are now on the way to the second target box
Trade closed: target reached:
Target2 Hit!
