After this market hit 61.8% Fib. retracement I believe it formed a next higher low inside the up going channel. Breaking below the channel will invalidate the idea. Please keep in mind it's just an idea and intend to be just that.
Comment:
It moved as expected. Continuation towards 1320 with possible bounce back down the channel or consolidation around the upper range of the channel with subsequent break out. Happy trading to all.
Comment:
Upper range coincides with 1.618 Fib and that is the Target for now.
Comment:
Idea is still alive and the trade is active. I bought in the range 1050 -1080. The market is still moving up the channel as described initially. Still targeting 1.68 Fib. extension. Happy trading.