CL1 - Trendline Analysis and 1:1 GW Target Hit 🧐The 1:1 extension Golden Window target caught the low and that was another simple trade setup having topped out without complexity at the 0.618 bounce retracement.
Notice that the two significant trendlines are the Shakeout and Extremity Demand Trendlines, similar in a very different context to what we looked at with Bitcoin in yesterday's video.
The top was a tiered Shakeout Reversal Pattern through the Shakeout Demand Line and now the small bounce has found resistance with a small Shooting Star candle through the Extremity Demand Line.
Notice on the weekly chart how the Shakeout Demand Line captures the Shooting Star topping candle and now we'll see if the Extremity Demand Line becomes a significant resistance point 🧐.