2 possible situations that can take place
we are currently in a uptrend. the red bar pattern is a guideline for a break of trend to the downside to the 70% on the fib retracement.
the green bar pattern is a guide to the upside and for it to continue the uptrend to retest at the 100% level on the fib retracement.
support zones are at 70% and at 50% for swing trading
resistance zones is at 100% and regression trend line as well as moving avarage with a 59 period
please do comment if i have missed anything and i will add it
we are currently in a uptrend. the red bar pattern is a guideline for a break of trend to the downside to the 70% on the fib retracement.
the green bar pattern is a guide to the upside and for it to continue the uptrend to retest at the 100% level on the fib retracement.
support zones are at 70% and at 50% for swing trading
resistance zones is at 100% and regression trend line as well as moving avarage with a 59 period
please do comment if i have missed anything and i will add it