If the breakout happens price may bounce back from .618 fibo, than pull back and test the resistance line (previous support) before the bears take the power over finally.
- Breakout happened
- 1H candle closed far below the resistance line(previous support)
- .618 Fibo nearly touched
- wait for pull back and test the resistance
CandleReaders
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- 0.618 Fibo worked well and turned the price back
- Price arrived back to resistance line so pull back happened
- ready for short
- Breakout happened
- 1H candle closed far below the resistance line(previous support)
- .618 Fibo nearly touched
- wait for pull back and test the resistance