This is not financial advice
Just recognising Patterns. This looks like a is forming.
Possible short opportunity from around 288 down to around 258 before continuing up to around 340.
Please give me any ideas or feedback you have. I'm eager to learn and share trading ideas.
A safer strategy is to wait for conformation of a new candle opening and closing below the line of support.
I've moved a few of my buy orders up and laddered them down from 269 to 255 just in case.
There may yet be another wave down, on the 1 hour chart, bringing the price as low as 255.
This is the .618 using the Fibs tool.
If this happens the wave should reach it's lowest point within the next 10 hours.
If you have any tips for me I'd love the feedback.
It is just how I will be trading.
It may go as low as 250 before continuing on it's upward trend.
The last wave down took 15Hours.
There could be another wave down over the next 15.