Hello friends !!!
The price and the indicators seem to tell us that the correction of the previous upward trend is over.
This is a not very pronounced and simple correction. We can identify that the correction may have ended because:
The price has stopped at the fibonacci average of 61.8% for several sessions, without closing the price below the average.
The Konkorde indicator tells us that strong hands with long volume have just entered and weak hands with long volume as well.
The short volume has ended, although the long has not been defined either, with which we must be cautious
The Konkorde indicator also begins to show us that the trend line is turning upward, once it crosses the average and with confirmation of the long volume we would have a potential bullish entry as the main short objective the fibonacci 61.8% of the correction.
I hope you had a good trading
OneTrade
The price and the indicators seem to tell us that the correction of the previous upward trend is over.
This is a not very pronounced and simple correction. We can identify that the correction may have ended because:
The price has stopped at the fibonacci average of 61.8% for several sessions, without closing the price below the average.
The Konkorde indicator tells us that strong hands with long volume have just entered and weak hands with long volume as well.
The short volume has ended, although the long has not been defined either, with which we must be cautious
The Konkorde indicator also begins to show us that the trend line is turning upward, once it crosses the average and with confirmation of the long volume we would have a potential bullish entry as the main short objective the fibonacci 61.8% of the correction.
I hope you had a good trading
OneTrade