No median line
analysis in this one but have a very interesting situation with price reaching the lower bond of a long term corrective structure. What we see looking at the daily chart
is that we have the completion of both a gartley
and an abcd
patterns still active as price still trades above X point of the gartley
. For those who are not in from the 0.786 fib retracement have a great opportunity to go long as the risk/reward has massively increased with price having dropped at about 185 pips below D point. I will personally take it from current level with sl below X and tp the classic 0.382 and 0.618 fib retracements of the AD.