ATOM 1h - FIB Levels
Sep 15, 2022 8:25 AM
Hi all!
Back from holiday and i did some quick analysis. As you can see ATOM was or better is in a downtrend. When i look at the chart i see some interresting points
ATOM FIb levels- First of all there is a resistance zone arounc 16.3 to 16.4 , marked in yellow
- The downtrend have been rejected to times which meets the EMA. Levels 13.244. This is what i call a support zone.
- Now i added a FIB chart. And as you can see we hit the 38 perfectly. ( around14.480
Now the question is:
How will the market react. In a bigger timeframe there is no need for a long. Because we are in a downtrend and it could be only a small relief ralley. On the other hand today there will be the ETM merge. Nobody can forsse how the market react. So i am placing a small bet with SL near the EMA and a first TP in the Resistance area.
But this is only my move and NO financical advice
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