We got a special setup here called the BoT. Entering on the confirmation of the double bottom which happens to be right on 0.25 which is our entry level for this setup. Our profit target is 292 and our stop will be at 202. Once price goes above the 0.50 set new stop to set to scratch and once price goes above 0.66 set stop to trailing. This is a trend continuation setup and if this AB=CD harmonic pattern plays out we should be able to hit our target!
Comment:
As you can see from the left, we had our fib retracement drawn out and shows that price has dropped down to mountain man at 0.618 and stopped its down action and reversed. The bulls are still here to play. With W confirmed in Willy and OBV I feel more positive this BoT setup will work out. Lets see!
Trade closed: stop reached