We have reached the min correction Level 38,2 @ 45,12. Here the sellers waited again. Let`s see if the consolidation will go further up to the max correction Level @45.5$
-Breaking through the illustrated last valid "2" will activate the shown example-shortposition (SL near above the possible "3?", TP= "2?"
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Can this be true? Dez 2016: 75$ ???
What do my tired eyes see?? Isn`t it a big bottom pattern in form of an exemplary H&S?
The signs, that there is still a bit air on the downside. A dip back to the 38,2 fibo @ 41,92$ would be great. A dip to the 0,5 fibo normal and a dip to the 61,8 maximal.
If this level would be bought, a is being formed. Prices above the neckline could interpreted as a BIG LONG SIGNAL.
I have illustrated the possible TPs in my chart
Update Main View:
Today we have reached the 61.8 fibo of the downswing 51,6-39,3 (yellow fibos). The open position is comfortable in the win (+7.25$).
At this fibo level a corrective downmove is possible (BBs are stressed out) - perhaps down to the "traders dream" - the 38,2 fibo from the movement ( 39,3-47,04) at 44,82$ - the former breakout level!
At latest here the present midterm uptrend in this tf should be resumed.
My Main view is still active!