I've seen the same scenario many times in the market. The level of 1.13 fib considers a harmonic failed impulse wave. to reach the desired price it might take 6 months or even a year from now.
I still want to go long in Jarir Saudi stock at 126 riyals per share
Shark pattern located in the last test of a major round number 1.80080
a lot to consider in the ranging markets
1- Round numbers ( Key levels )
2- Any Harmonic patterns can be located in the middle
3- Confluence of Supply and demand levels
this case study has taught me something I wasn't aware of that trade what you see not what you feel
always trust your patterns
I see Tricky scenario on EURZAR Monthly TF
stopping action in 61.8 from the previous impulse wave, naturally, its 2nd tp crab pattern, breaking the level of 61.8 will go to the below demand zone.
it might take 6 months it might take a year to reach that demand zone.
all the GBP pairs are showing an aggressive trending market. with such market condition, i do expect the pattern to penetrated a little bit then at least we going toward TP1.
activation level will be update accordingly