VRA fell slightly short of my trend based targets but reached its 1.618 fib extensions and sold off. Profit taking after doing more than 160x in 12 months is to be expected but so far that sell off hasn't been to dramatic.
I'm expecting a re-accumulation range now, price could drop back to the 0.382 fib at around 0.06 cents which lines up well with a key 4HR OB from the previous range.
Ideally it would be great if VRA held the Daily OB at 0.068ish cents, if bulls can hold support there we might see a faster continuation or if we get some news, whatever that might be.
If VRA is able to reclaim the 4HR OB at 0.076ish cents and hold it as support then expect more upside.
Good luck, happy trading and manage your risk.
I'm expecting a re-accumulation range now, price could drop back to the 0.382 fib at around 0.06 cents which lines up well with a key 4HR OB from the previous range.
Ideally it would be great if VRA held the Daily OB at 0.068ish cents, if bulls can hold support there we might see a faster continuation or if we get some news, whatever that might be.
If VRA is able to reclaim the 4HR OB at 0.076ish cents and hold it as support then expect more upside.
Good luck, happy trading and manage your risk.
Note
This seems to be playing out relatively well so far, still thinking we see a larger dip before continuation.
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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.