What I have included on this chart is :
An Impulse wave
An equidistant channel
A Fibonacci extension
And A fibonacci retracement from the 1.618 level of the extension
The impulse wave and the fibonacci extension both create a major support level at the ~1.08641 level which has been tested quite a bit recently. The white levels are the retracement and I can see the first leg of the corrective wave reaching the .382 level of the retracement; setting a TP at ~1.09194
An Impulse wave
An equidistant channel
A Fibonacci extension
And A fibonacci retracement from the 1.618 level of the extension
The impulse wave and the fibonacci extension both create a major support level at the ~1.08641 level which has been tested quite a bit recently. The white levels are the retracement and I can see the first leg of the corrective wave reaching the .382 level of the retracement; setting a TP at ~1.09194
Commentaire:
And there you have it. If you had placed this trade yesterday, you would have gained a nice little profit!