Mind the bigger pattern in the back though (see my previous post in the link below).
Due to the possible counter-trend nature of this trade and that bigger bat I will take conservative profit targets.
The black lines show that we made a nice move which could possible be extended into a pattern. I will be seeking confluence from that possible further extension to pick my short entry point off the possible min or max. (or in between..) .
My best bet would be the entry level of the trades on the chart, i.e. around the of XA of the larger bat!
I will take at least 70-80% at TP1, leaving only a small part open for the second target.
My TP2 will be at the instead of at the usual 61.8%, it is somewhat safer and it is above the 0.6400 round level. One might want to consider a tighter SL, i.e. just above completion of the max. , but I like to keep it wider.
The setup might be altered depending on where the actually completes (if it does at all).