This is a counter trade based on a classical AB=CD Pattern that doesn't respect Fib ratios,but the length and time of the leg AB is equal to the length and time of the leg CD, and moreover the D point is aligning with a support level structure which gives the trade a high probability of success.
The First Target is 50% of the leg CD, while the second target is 78.6% of CD.
The First Target is 50% of the leg CD, while the second target is 78.6% of CD.
Note
First Target HitNote
The trade managed to hit the first target only.Therefore I close the trade 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.