Updated from the earlier idea with adjusted fibs. Where the extension from March to recent monthly highs aligned, I used that fib as marked entry.
- Solid uptrend established
- Still oversold on the daily
- Entry near the fib especially after a successful backtest as support would be a solid entry.
Trade closed: target reached:
Finally got the move after a close above the fib in the gap, but fell back on market weakness and closed below. Will revisit on market strength.