Wave 1 of the last 5 completed. Waiting for some retracement (possibly to 0.72) until continuing downward
Target 1 is 0.704 (Wave 5 may fail to reach new lows due to the trendline being broken) - 70% possibility
Target 2 is 138.2% Fib or 0.7 (round number) - 30% possibility.
Entry is now. There is presence of strong resistance on the lower side of the big channel. Today we have a second attempt to break, failed.
On classic Technical Analysis, this is considered a flag, confirming a target of 261.8 FIB target, also going to the upper band.
Elliott Wave analysis also confirms this as a ...
A new opportunity on the 5-minute chart - the reason I closed this deal resulted in a triangle
I re-opened a new position with a very tight stop, and a further away target. Deal details:
Buy stop @ 1351.09 SL 1347.12 TP 1378.43 RR: 6:89 :)
Round numbers as support, impulsive move down initiates the new continuation of the old trend.
Risky stop loss is about 0.7515 ,
Pending order, sell limit a little below 0.75,
Target is a long-term 0.65~a little above.
Using fib, elliott, classic triangle, S&Resistance lvls;