Key Support Levels:
- Fib Retracement 0.618 level (recent swing low to swing high)
- Trendline (Two previous swing lows)
- Anchored VWAP (Second & Third previous swing lows)
- Fib Speed Resistance Fan (Second swing previous swing low to current swing high)
- Key level (Old previous POC and Local LVN)
- Monthly level (High time frame)
- Fib Channel 0.25 level (High time frame swing highs and low)
- Rising Channel Bottom (Previous - Current swing high to swing low)
So we got a lot of nice non-biased levels that coincide in one location.
I'm predicting that we will bottom out in around 2 weeks (according to fib time) plus we have plenty of reasons to bounce.
It will be nice if we see the formation of a bullish reversal pattern heading down toward these levels along with strong bullish divergences.
For example, a high time frame candlestick reversal pattern along with a mid/low time frame classic reversal pattern or a bullish harmonic pattern that provides an entry that also coincides with these support levels.
- Fib Retracement 0.618 level (recent swing low to swing high)
- Trendline (Two previous swing lows)
- Anchored VWAP (Second & Third previous swing lows)
- Fib Speed Resistance Fan (Second swing previous swing low to current swing high)
- Key level (Old previous POC and Local LVN)
- Monthly level (High time frame)
- Fib Channel 0.25 level (High time frame swing highs and low)
- Rising Channel Bottom (Previous - Current swing high to swing low)
So we got a lot of nice non-biased levels that coincide in one location.
I'm predicting that we will bottom out in around 2 weeks (according to fib time) plus we have plenty of reasons to bounce.
It will be nice if we see the formation of a bullish reversal pattern heading down toward these levels along with strong bullish divergences.
For example, a high time frame candlestick reversal pattern along with a mid/low time frame classic reversal pattern or a bullish harmonic pattern that provides an entry that also coincides with these support levels.