Assuming 275 is the creek, i have made the PnF TP calculation PnF= 0.005x3x25
TP~~ 0.18 + 0.375
Ready for a markup phase, Spring has formed the Wave 1 EW. Wave 1 peak right at the resistance by 1/1 and retrace at RBS line of the broadening triangle . Do note that it has made a spring up till 0.5/0.618 Fibo retracement before resting at current 0.38fibo area. Using the informations we have made the projection up till potential TP.
Given that this is uncharted territory with less historical data, it is good that it retrace and forming a strong significant support like it does now at Wave 2 EW before continue the remaining EW. All the lines in the chart is the immediate resistance/support areas.
wise, we cannot see a clear distribution in play yet.
Plan this trade with tight loss given that below this support, the region 340-290 has a thin which mean, price will move fast in any direction within this region.