There could be a scenario in which market forms same high as previous high and stays in the zone giving us a better entry, but I tihnk this is good enough and that bears are stronger right now.
If you look at the M charts you see this minor zone was already broken several days ago and I see this as a retest.
Will it bounce off 50 or 61 lvl of fibo and rally to major monthly resistance ? or could this be a trend reverse ?
Also RSI indicating a drop.
Would like to see what you think of this so feel free to leave a comment.
It might be too soon to go long since there is another zone below the one I made an entry on.... keep that in mind .... so if this zone breaks next one will prolly hold but since I do this for practice I might as well place some trades which I thing might work instead of waiting for perfect trades, so keep that in mind too if you feel like following this trade. Cheers