A potential ABC correction - cup with bull flag / flat handle ABC formation which currently retraced 61.8% of the A/1 wave with a possible a.4-a.5 stop hunt ending diagonal for a second false breakdown.
Entry Position: Once price successfully recovered from the false breakdown support zone which could be a few attempts since wave 4 often a complex triangle.
Indicator support: RSI bullish divergence in TFD confirmation of the a.5 wave.
Target Position: TP1 @ 161.8% and TP2 @ 200% Fibonacci extension +200%!
Invalidation: Below the lowest price position.
Always trade with affordable risk and respect your stop,
Good Luck
Entry Position: Once price successfully recovered from the false breakdown support zone which could be a few attempts since wave 4 often a complex triangle.
Indicator support: RSI bullish divergence in TFD confirmation of the a.5 wave.
Target Position: TP1 @ 161.8% and TP2 @ 200% Fibonacci extension +200%!
Invalidation: Below the lowest price position.
Always trade with affordable risk and respect your stop,
Good Luck