Stellar is fast approaching a critical level where its very likely we'll bounce from. The 0.20 level is where we bounced off from once before and it looks like we may be bouncing from there again - highly likely.
The unlikely scenario is that we visit the -0.27 fibonacci, which is practically 0 therefore making it unlikely.
Trade Idea:
- Watch for bullish price action at the 0.20 level where we have the completion of the ABC correction
- Enter with stops below price rejection
- Targets: 0.420 - 0.800 - actively manage the rest
Let us know your thoughts!
The unlikely scenario is that we visit the -0.27 fibonacci, which is practically 0 therefore making it unlikely.
Trade Idea:
- Watch for bullish price action at the 0.20 level where we have the completion of the ABC correction
- Enter with stops below price rejection
- Targets: 0.420 - 0.800 - actively manage the rest
Let us know your thoughts!