Hello awesome traders! 👋
Wrapping up the week with one more setup review — this one’s moving step by step, and now testing a critical level. Let's break it down.
📌 Pattern Breakdown
We had a clean multi-leg impulse and harmonic rotation:
🔹 D-leg reversal formed at 170.809, right inside the PCZ
🔹 Strong rally into the 23.6% fib zone (172.895)
🔹 Partial profits were taken at that first resistance
🔹 Price is now testing that same level as resistance turned support (R→S)
This is the decision point — a confirmed hold above 172.89 signals potential continuation toward TP1.
🎯 Targets Ahead
📍 TP1 Zone:
• 78.6% = 173.694
• 100% = 174.215
💡 But first — 23.6% is the gate. If it holds as new support, momentum should carry this back into the higher fibs.
🧠 What to Watch
✅ Structure respected from PCZ
✅ Partial taken on first reaction
🟡 Now watching reaction at 23% for direction:
• 🔼 Break + hold → continuation toward TP1
• 🔽 Failure + breakdown → reversion back into PCZ
🗝 Final Thoughts
This is how measured setups evolve — from structure → to reaction → to resolution.
You’ve got the edge — now it’s about letting price show the hand.
“The 23% isn’t just a pullback — it’s a pressure point. Hold it, and the next move builds.”
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.
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.