0.5 fib level intersecting with previous support now resistance level.
This is just a relief rally that is bound to end as we are clearly in a bearish trend continuation (already called it in the idea I linked below). A possible entry for a short position to ride down would be 159.8 where a resistance level meets the 0.5 fib level.
TP1 would be down again to 158.4 in the short term, if it break I will post an update :)
Safe and successful trading!
This is just a relief rally that is bound to end as we are clearly in a bearish trend continuation (already called it in the idea I linked below). A possible entry for a short position to ride down would be 159.8 where a resistance level meets the 0.5 fib level.
TP1 would be down again to 158.4 in the short term, if it break I will post an update :)
Safe and successful trading!
