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Look for a retracement back to 38% for entry long and then a target of 161%. Has been a bounce of the daily trendline.
Retracement back to 38% after bounce of trendline on daily trend and target 161% fib extension - King's Crown setup.
Retracement back to 38% for short down to 161%
Retracement to 38% Fib level for entry and target at 161% Fib extension level
Look for retracement back to 38% of downward bounce move off the daily trendline targeting 161% fib extension.
Previous idea played out a treat. Retracement occured to expeted level and first target at 3.5 to 1 RR has been hit. Heading up nicely to 10 to 1 RR now.