Hey guys, thanks for checking out my idea, hope it helps.
Why do I think Trend continuation?
Let's start with the first ( DB ), it retraces at the 618 and shoots up to a new structure high, I believe that this pair is on a retracement after hitting the strong from 2011 and also as extra confirmation the is .
In my ideal world the market would then retrace to the Fib retracement of the last leg. Trend continuation entry is your choice, but mine is Candle formation for confirmation.
The 3 doted line are all clones, and show a good market . If the market was to kindly reverse at the of the last leg, we can see how the doted line gets close to the 1618 Fib extension of the last leg.
I can see quite a few confirmations that'd suggest a strong trend continuation here. Watch out for a confirmation around the 382 or even the 500 Fib retracement, But in any case retracement can happen anywhere.
1st Profit area for me would be below the 1272 Fib extension and 2nd below the 1618.
Hope I make sense and the picture/Chart speak for themselves.