1.Double bottom; 2.Broken neck; 3.Found resistance; 4.Pullback into the 618 fib; (the 2618 trade setup completed) 5.A rally above the 141 ext;
First target for the 2618 at 127% extension or an ab=cd pattern projection; Second target above, at 161%, and there, we have confluence between fibs, retracement, and extensions, and the price is already testing the previous structure (blue box at left, previous highs);
One advanced pattern to be forged at a reversal point (the 78%) is what i am expecting, to then engage the trade, with the same targets as always, the 38 and the 618 fib retracements.
Safe Trades;
Trade active
⋅
Comment
⋅
Comment
⋅
Adjusted fibs, STOPS and targets based on most recent price action and structure...
Comment
⋅
Stops adjusted into a 1:1 r/r at "NEW" 1st target level