Price action and chart pattern trading setup
> Elliott Wave projection - 3rd Wave Extension at 1.618 Fibonacci extensions of Wave 1.
> Wave 4 ABC zigzag correction - current Wave C position estimated exactly at 1.0 of Wave A slightly overlapped Wave 1.
> Assuming that Wave 4 is here, estimated Wave 5 at 1.618 retracements of Wave 4 closed to or just below 2.618 extension of Wave 1
> possible an ENTRY signal at current falling wedge breakout
> 1st TARGET at top of Wave 3 and 2nd target at Wave 5 zone
> Risk reward ratio at 3:1 for medium-term trading and 4:1 for long term trading
Always trade with affordable risk and respect your stop-loss
> Elliott Wave projection - 3rd Wave Extension at 1.618 Fibonacci extensions of Wave 1.
> Wave 4 ABC zigzag correction - current Wave C position estimated exactly at 1.0 of Wave A slightly overlapped Wave 1.
> Assuming that Wave 4 is here, estimated Wave 5 at 1.618 retracements of Wave 4 closed to or just below 2.618 extension of Wave 1
> possible an ENTRY signal at current falling wedge breakout
> 1st TARGET at top of Wave 3 and 2nd target at Wave 5 zone
> Risk reward ratio at 3:1 for medium-term trading and 4:1 for long term trading
Always trade with affordable risk and respect your stop-loss
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