I expect this pattern to complete today or tomorrow.
This has an AB measurement of 0.393 which means the reciprocal ratio will be 2.618. This is the CD price leg.
Once price confirms 2.618 ratio I will be looking to enter the trade depending on how price looks in the PRZ.
Stop loss level is measured with the fib retracement tool from B to C using a set ratio of 3.14 or 3.618
Take profit level is measured with the fib retracement tool from A to D using a set ratios 0.382 and 0.618
If price reaches the 0.382 ratio I would move my stop loss into break even or just into a little profit to bulletproof the trade ensuring if the trade goes against me I will not take a loss and even a small profit.
If you have any questions feel free to drop it in the comments.
Happy trading and hope everyone has a great day!