Grids are built on one uptrend and one downtrend Fibonacci Channel, adding new channels as extensions. I solely use it for orientation purposes, provides additional info of the trend and positioning of the price.
For now, after the upswing got once again rejected by the 0.236 downtrend fibo channel line on 6th of April, we have entered a new both uptrend and downtrend inferior channel to resume the major longterm downtrend.
I hope you find this chart helpful! Cheers!
For now, after the upswing got once again rejected by the 0.236 downtrend fibo channel line on 6th of April, we have entered a new both uptrend and downtrend inferior channel to resume the major longterm downtrend.
I hope you find this chart helpful! Cheers!
