I have two overlapping patterns in development here. First on 15 min chart with open position as seen on the chart. After run and bounce off Sup/Resist level 1 we hit the 0.786 fib.retsr of the small pattern "XC" leg signaling trend reversal. On this one I am shooting for extended target at Level 2 Sup/Resist area.
Level 2 Sup/Resist area lines up with the 1 Hour pattern i am fallowing( in Orange). The 1.127 extension of "XA" leg lines with the 2 level of Sup/Rsist. This is where I look to exit long and reverse short IF parameters are met!!
Level 2 Sup/Resist area lines up with the 1 Hour pattern i am fallowing( in Orange). The 1.127 extension of "XA" leg lines with the 2 level of Sup/Rsist. This is where I look to exit long and reverse short IF parameters are met!!