as on picture - this will tell you all the story
Correction with S/R zone, D ends in A point, plus demand zone. SL quite wide - there is wick from 2/2/16... TP also quite safe...
1) AB=CD 2) 0.618 local fibo retracement 3) S/R zone Notice - activated SL = sentiment changed to bullish, look for pullback and buy :)
There are some things here I am keen to buy: AB=CD double fibo (blue zone) AB=CD within CD (blue boxes)
let us see - but seems like this may be another ab=cd, confluence with fib 0.382. Risk is close to S/R zone which is with 0.5 fibo.
As you can see on picture - classical zigzag AB=CD (potential), confluence (almost) with fibo and demand zone. SL is quite far, actually given confluence 1.128 should be good enough. TP is also quite safe for both T1 and T2. Notice yellow demand zone - there is some chances price reverse up in this zone...
AB=CD correction. CD is unclear, as there were wicks, so entry is rather zone than just line - price need to be observed on smaller TF or alternatively couple of limit entries. Notice 0.382 fibo. SL below S/R zone. Simple as is. Another scenario is activate SL, retest zone - nice place for shorts.
Couple of interesting elements here support zone round level fibo and most important - AB=CD
fibo cluster and ab=cd = this might be nice zone for shorts. target - last bottom.
The more the bigger risk. Rest - on picture.
That would be a nice signal for (relatively) safe entry :-)
again and again, trading the same and the same :-)
This is just for historical purposed, I tested stacking orderd (buy stop buy limit) - actually I had 26 of them :) I was far away for internet when first top appeared, so kept this a while, and sold whent second (third?) top happened. Initial SL was below 27, then moved to 28.5. and then 29.5 It was more than lucky shot that something really planned.
Experimental position - supply zone.