ALB 1W Reversal at 23.60% Fibonacci Retracement
ALB has been downtrending over the past 2 months and currently appears to be reversing at the 23.60% Fibonacci Retracement. Additional confirmation from Spectro M's Scalp setting reversal tool, as seen in the shaded vertical band, Spectro's X Confirmation, and Spectro O using symetric weight and Murrey. The price reversing at the bottom of the Murrey Spectrum alludes to potential for a nice run. In addition, if viewing the 1D chart, a Sectro Alpha indicator appeared 2 candles ago with Spectro M's Volatility tool.
When I looked at volume using Spectro O and Murrey, it indicates volume pointing downward still at the bottom of the murrey range. My read on this, is the potential for further correction to a full Fibonacci retracement exists.
If entering now, I would utilize a tight stop in the case of a full retracement.
Analysis by AlchemistLA
Note:
I am a Hypester team member and a novice currently learning TA. Any suggestions and/or corrections of my analysis are encouraged. Thank you for helping me in my journey through your feedback.
When I looked at volume using Spectro O and Murrey, it indicates volume pointing downward still at the bottom of the murrey range. My read on this, is the potential for further correction to a full Fibonacci retracement exists.
If entering now, I would utilize a tight stop in the case of a full retracement.
Analysis by AlchemistLA
Note:
I am a Hypester team member and a novice currently learning TA. Any suggestions and/or corrections of my analysis are encouraged. Thank you for helping me in my journey through your feedback.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.