•AB leg can retrace 38.2% or 50% of XA leg •BC leg can retrace between 38.2% – 88.6% of AB leg •CD leg can retrace up to 88.6% of XA leg •CD leg can also be an extension of between 1.618% – 2.618% of BC leg
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I'm confident in this trade for two reasons, 1 the terminal bar at the 2.618 CD and 88.6 XD and 2. RSI O/B has now fallen below the 70
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Now it the perfect time to get in. Down she goes from here