I'm looking for price to continue to rise to the 61.8% fib level of the AB boundary and continue to the downside for an estimated ~400+ pip move before continuing to the upside.
The take profit level is the 100% extension level and is 61.8% retracement of the original move up.
The take profit level is the 100% extension level and is 61.8% retracement of the original move up.
Trade closed: target reached:
Used the extension tool, price reached the 1. Closing position, now looking for buy.
Trade active:
Price retraced to the anticipated level.
Entered on a sell limit.
Anticipating a continuation to the downside.
zoom.us/j/3868218548?pwd=RnZMZk...
Entered on a sell limit.
Anticipating a continuation to the downside.
zoom.us/j/3868218548?pwd=RnZMZk...
Comment:
If price breaks current trendline, I will be entering a sell position and not waiting for price to go to the sell zone.