1. We have price supporting up along a bullish trendline, currently moving up from 4th wave.
2. Stop loss can be placed just below 4th wave under .5 fib resistance, now turned support.
3. T/P1 should be at .786 fib level near prior move down indicated by purple highlighted areas.
4. A break out of bullish trendline will invalidate the trade and indicate a move down in the short term.
2. Stop loss can be placed just below 4th wave under .5 fib resistance, now turned support.
3. T/P1 should be at .786 fib level near prior move down indicated by purple highlighted areas.
4. A break out of bullish trendline will invalidate the trade and indicate a move down in the short term.