Following this retracement there is a chance the XLF will push lower to test the established support area. There's no way no where the top of the current swing will be, but I like to enter these patterns using a set up on a smaller timeframe which allows me to place a much tighter stop-loss and maximizing my R. I wont enter the trade until I see a set up on a smaller timeframe, and if price action reaches the invalidation point, the trade idea is reevaluated.
Not a recommendation.
Not a recommendation.
Trade closed: target reached