A simple trade idea.
A break below the most recent low forming a new down trend.
RSI is still above 50 but MFI is showing a lot of weakness. I think RSI will soon follow.
I took a trend based fib to find a target at the 1.618 which corresponds nicely to a previous area of support.
Let me know what you think.
A break below the most recent low forming a new down trend.
RSI is still above 50 but MFI is showing a lot of weakness. I think RSI will soon follow.
I took a trend based fib to find a target at the 1.618 which corresponds nicely to a previous area of support.
Let me know what you think.
Another leg down before hitting the TP?