MACD Divergence and proximity of a 127.2 fib extension makes me wanna go long.
We might also have finished a wave 3 within a possible ending diagonal (see daily view linked below) so a wave 4 up to the 50% or 61.8% retracement of wave 3 looks like a good target for wave 4.
There is also this gap which has not yet been filled...
This together with a possible trendline test scenario makes this a hard setup not to take!
Only one target for me: the level where the gap will be filled!
For SL there are different possibilities, I prefer the wide one as per the setup on chart but tighter is possible, see suggestions on chart and choose wisely...
Trade active
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Went long at market and will gradually add if it drops further to get better entries, up until I am fully invested as per my money management rules...
Comment
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At the trendline just above my SL, added a long, make or break soon...
Trade closed: target reached
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It came close to SL but reversed in time and now the gap is filled!! I did leave a small long open since we are now above the trendline so we might continue further up!!