The previous trade we took profits at 40 cents. We missed the additional move to 47 cents. You can see from the previous chart published how the price bounced back from the extended dotted trendline on the chart. However, my analysis for the trade was 40 cents and I am always happy to take profit. Given the recent volatility there are always opportunities to get back into the market. With the added push to 47 cents my anticipated pull back to 34 cents was nullified. However I can now see another opportunity for another push upwards towards 59 cents. I could be a little early to this trade but using fibonacci we have hit the 61.8% support and from here the leap to 59 cents seems an obvious target based on previous support and resistance.
Trade active:
Previous trade found here
Trade active:
Re entry at 61.8% fibonacci retracement. Target remains 58 - 59 cents area
Trade active:
Rookie error.. i inadvertently read the fibonacci retracement incorrectly. Updated correct trade published here
www.tradingview.com/chart/ZLZsKHXX/
www.tradingview.com/chart/ZLZsKHXX/
