A countertrend trade. Price action on the 100% fibonacci retracement level diverges from repulse-zigzag action. Entry price at 16303. First profit target at 16333. Second profit target at the R1 level (16476)Confirming action
1. Price action on the 100% fibonacci retracement level diverges from repulse-zigzag action.
2. Downtrend price movement touched at least the S1 level to give any countertrend trade some credibility.
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