Price in "Multiple Resistance Area"

٢٩ مايو ٢٠١٧

After the runaway Gap price developped an harmonic ABCD movement. Not only are we at D point right now but we can gather together multiple Fib ressitance levels in this area.

Looking closely on the daily and 240M chart this week. Nice erea for a countertrend trend trade. IV% is far below 20% so no way to collect premium this time but Debit Put Spread may do just fine if price drops and IV raises