Eth Scenario potentially playing out via W

Confluence in the target of ~2490 with two fibs (0.618 amd 1.272) and the immediate target of the W (Yellow). The first extension (Orange) of the target matches very closely with the limit of the golden pocket (0.618-0.65), a possible target to watch. It is possible we reach the second extension (Red) of the breakout, and bounce off the golden pocket, which would be ideal, and complete the breakout of the larger W in the previous post. You will only want to long if there are confirmations of the breakout. rightnow we got rejected off the neckline of the W. Wait for the breakout with volume and retesting the previous resistance as support before entering a position.

Not a Financial Advisor