Green parallel channel inside of a larger yellow parallel channel.
We have a completion of a 5 wave pattern, with price extending further past the 23.6%, but still respecting the 100%.
With stops above the 100%, we should see this move down to the 78.6%.
We have a completion of a 5 wave pattern, with price extending further past the 23.6%, but still respecting the 100%.
With stops above the 100%, we should see this move down to the 78.6%.
Note
EDIT: When I say 100%, I mean 0% on the FIBNote
Head and shoulders on the daily with price hitting a resistance level. Best entry along this level because at the break of the neckline we may see a drop and then price pop back up across the neckline.Note
We can see a break back below the trendline. The blue line on the 1hour is a support/resistance zone that we may see price go back to before making the drop.Let's see if price hits the target.
Note
Additional short triggeredTrade closed manually
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.