3 Possible Scenes
I made a chart with fibos leves of every important wave on 1D and find this...
1. Price must find a strong resistance at 88.6% (1.37625) and could go down to a Strong Fibos confuence at 1.27329/1.2840.
2. Price could go UP to 100% (161.8% previous level) at 1.3840 and then down.
3. Price could go UP to 127% - 261.8% previous levels in the zone 1.3975/1.4013.
Only time will tell which way is right.
Cheers
1. Price must find a strong resistance at 88.6% (1.37625) and could go down to a Strong Fibos confuence at 1.27329/1.2840.
2. Price could go UP to 100% (161.8% previous level) at 1.3840 and then down.
3. Price could go UP to 127% - 261.8% previous levels in the zone 1.3975/1.4013.
Only time will tell which way is right.
Cheers
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.