To the left we have 3 trading ranges
The top being the one we broke down from initiating the downtrend.
We dropped, almost perfectly - the exact same distance to a short term support, and retraced 50% of our new range, with a small liquidity chase/stop run thru the 50% point.
Then turning further downwards to yet another almost perfect measured move equal to the previous 2 ranges, and coincidentally - a monthly S5 pivot point.
Long from $4350
Target - $4878
aka 50% of the range and possible liquidity/stop run area with 50% fib retrace confluence
The top being the one we broke down from initiating the downtrend.
We dropped, almost perfectly - the exact same distance to a short term support, and retraced 50% of our new range, with a small liquidity chase/stop run thru the 50% point.
Then turning further downwards to yet another almost perfect measured move equal to the previous 2 ranges, and coincidentally - a monthly S5 pivot point.
Long from $4350
Target - $4878
aka 50% of the range and possible liquidity/stop run area with 50% fib retrace confluence