SMS PHARMA: Ready a for bounce from Fibonacci Golden Zone!

26 בינו׳

⚡️Price Analysis:
1️⃣ Price testing crucial fibonacci retracement level.
2️⃣ Strong Dz confluence with previous ATH breakout zone
3️⃣ Sharp correction meeting multiple support levels
4️⃣ EMAs providing dynamic resistance above.

✨ Key Observations:
➡️ Multiple technical confluences at the current level
➡️ Expecting good 1:3 RRR w/ 15% SL
➡️ RRR is highly favourable at current levels
➡️ Price structure suggesting a potential reversal
➡️ Volume patterns indicating selling exhaustion
➡️ The pharma sector is showing relative strength.
➡️ Perfect technical setup with multiple confirmations is looking to good.

⚠️ Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Views are personal. Please, do your due diligence before investing.⚠️

💬 Share your thoughts on this analysis in the comments below! ✌️

🔥 Happy Trading!✅🚀

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