A closer look at Chainlink

As per graph, I'm inclined to think we'll go lower to the target green target box.

With the declining RSI and Volume, and 400HMA and Fib.5 as top resistance, i reckon we'll see a breakdown through the cloud rather than a bounce.

An upward move with 600/800HMA and Fib.618 as resistance, only to test the cloud at a later date acts a second scenario.

Cheers!

Commentaire:

Looks like the second scenario is playing out, although it hasn't broken beneath the cloud to the target box yet. Last time there was only a two candles in the window.
Cheers

Ordre annulé:

Missed target box. Candle 6th oct. testing top and bottom of the cloud with no follow through. Looking for other opportunities.

Cheers!