2618 setup is completed in H4. Price has overshoot 61.8% level and touched 78.6% level (which is a better price to enter). Having said that, of course, there is a risk that price may just continued to fall and take out the lows of the double bottom
Another confluence for this trade is the buying opportunity here is in line with my earlier idea (see link below) - bullish cypher
pattern in the daily chart
. It is within the buying zone.
I'm going to play this as a 2618 trade with tighter stop loss, compared to the cypher
stop loss placement.