This analysis is using Fan principle & Fibonacci to conclude about the support
The trend line has been penetrated 3 times, meaning there is confirmation of new trend from uptrend to downtrend.
Using fibonacci we can measure the support is on 104 (0.618 line)
Buy: 100-104
Sell: 110-120
Stop loss: 5% from buy price
The trend line has been penetrated 3 times, meaning there is confirmation of new trend from uptrend to downtrend.
Using fibonacci we can measure the support is on 104 (0.618 line)
Buy: 100-104
Sell: 110-120
Stop loss: 5% from buy price