In this idea we will look at 2 potential scenarios:
1. Game continue
2. Game over
In case if that was top i expect strong correction 21 EMA can provide for us good support.
Also on that level we got our favorite number 0.618.
Here CD has exactly the same length as AB. In addition, it takes the market the equal time to travel from A to B as from C to D. As a Result, AB and CD have the same angle. Coincidence? i don't think so! let's see how it goes.
In the classic one, the point C should be at 61.8%-78.6% of AB (Use Fibonacci retracement tool on AB: the point C should be close to 61.8%). The point D, in its turn, should be at the 127.2%-161.8% Fibonacci expansion of BC. So there is potential go even higher 10140 but the key level is 9500 (0.382 fib lv). Let's see how it works!