Consolidation inside of a pennant pattern showing break out with a continuation of the previous bullish trend from before consolidation. Bullish RSI divergence, as well as a bullish MACD divergence on 3h/4h candles. Please note the text boxes - the wave 4-5 target are only if the wave 3 stops at 1:1 Fibonacci extension (which I marked as the sell zone for wave 3).
Comment:
Quick note - leg 4/5 is if wave 3 peaks at 1:1 Fibonacci extension of wave 1-2 if it goes past to 1.618 then the 4/5 analysis is null. Meant to say that in the text bubbles
Comment:
New leg 5 PT: 3.37-3.39
Trade closed: target reached:
Succesful trade :)