You can see the EG is actually in a cup and handle pattern. I marked the supply zone off the 1hr chart. Im looking for price to pullback to the 50 fib around 86.20/40 area. Ill put half my order as a limit with a stop above 86.60. Then i will look for a candlestick to get in for the rest of my order. You can see the take profit area which is a simple ab=cd pattern and the measured move of the cup and handle.
Comment:
Maybe price found resistance at the 38 fib. You have a shooting star forming. You could look to get in here. Offers a nice RR.
Comment:
You can see price retraced right to where we wanted. I put half order on with a limit and this was the rest of the order.