Trend break + strong closes above a previous lower high, indicating a change in trend.
Will be looking for price to pull back to the 50% zone and wait for clear signs of support for a reversal back up.
One concern is that price has already had a strong close and rejection from this zone and is pulling back - indicating some weakness, possible manipulation, who knows.
Exercise caution.
Will be looking for price to pull back to the 50% zone and wait for clear signs of support for a reversal back up.
One concern is that price has already had a strong close and rejection from this zone and is pulling back - indicating some weakness, possible manipulation, who knows.
Exercise caution.
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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.