Starting new uptrend .
This chart is a very clear and bright of Trend & correction. After a good trend, you can see a corrective wave finished in 50-61.8 Fib ret where I consider as a sure zone for end of a correction almost always. In my strategy, new uptrend starts after breaking of a descending trend line and passing out of a price level preferably a major one. I see both conditions in this chart and i'm gonna enter to buying position at opening market.
Setting a good SL should be the first priority for traders, do not forget it.
Good luck.
This chart is a very clear and bright of Trend & correction. After a good trend, you can see a corrective wave finished in 50-61.8 Fib ret where I consider as a sure zone for end of a correction almost always. In my strategy, new uptrend starts after breaking of a descending trend line and passing out of a price level preferably a major one. I see both conditions in this chart and i'm gonna enter to buying position at opening market.
Setting a good SL should be the first priority for traders, do not forget it.
Good luck.