, not so good because price has lost momentum to hit either Fib 27.2 or Fib 138.2 before retracing. But this is normal as the high at Fib 100 has the power to force a retracement before price heads for the above two Fibs. This is the pattern that normally gives you your Double Top
before a resumption. We have had a good retracement by that last long candle to the downside and price is currently finding some support on the low left by this long bearish
candle. If this low holds its ground, then our STOP will be @ 23803, our TARGET will be at @ 24197, which is a Fib 161.8 level given a Fib 50.0 retracement support. Now the WAITING game starts. We need to WAIT for a candle that closes well clear of our counter trend line
and buy the candle that follows this candle. This is all that is needed. WAITING. If price decides to go for a deeper retracement, which means heading towards Fib 38.2 or Fib 27.2, fingers crossed this will happen before we get the counter trend line break
, saving us from getting burnt. I hope this helps. Happy trading at all times.