Price moving in a corrective structure, is testing the lower parallel of a median line . I expext price to rally from that level for another impulsive wave with potential profit target the lower quartile of the pitchfork .
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Price explode towards our target. With more than 2:1 risk/reward ratio at the moment we may move stoploss to BE for a risk free trade. Very soon price may reach our target
Trade closed: target reached:
As i described in the post my profit target was the lower quartile of the pitchfork. Although in the chart it seems that price didn't reach the target (green box) i closed my position with a 3.4:1 profit.