MELI Long Opportunity after the correction
Mercadolibre is still correcting although drawing closer to a zone I expect a bounce/reaction.
Since Sept 2020 MELI has been trading inside a ascending channel and printed a fresh ATH in Jan 21.
I anticipate a move down to the bottom of the channel with the following confluences 200EMA,
.618 fib pull from bottom of the channel to the last swing high and the point of control *POC as drawn on the chart.
ALways know your invalidation and use a SL ..Like Share and follow for regular setups and analysis
Since Sept 2020 MELI has been trading inside a ascending channel and printed a fresh ATH in Jan 21.
I anticipate a move down to the bottom of the channel with the following confluences 200EMA,
.618 fib pull from bottom of the channel to the last swing high and the point of control *POC as drawn on the chart.
ALways know your invalidation and use a SL ..Like Share and follow for regular setups and analysis
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