Traders,
Likely momentum to be seen off of a nice action level, expecting some nice downside as we break the sideways consolidation off of the Fibonacci ratio confluence resistance ceiling.
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Divergence going on 4h, 8h with double bottom on the 0.5 retracement of last move.
Will that be enough for some long ? ...
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CD leg with a 1:1 ratio with the XA leg falls into the blue region shown on the graph (which is also a confluence of the 0.786 retracement and 1.272 extension, so will look for this as an entry point .
Stop loss is based on previous structure support as shown by the horizontal red line.
Not only is this a nice Gartely, but we also have the entrance point on...
