On the left Fibonacci retracement levels of the last big upward move. On the right Fibonacci retracement and extension levels of the last smaller upward move
TP 1 - is the coinfluence of the 0.618 retracement of the last big upward move and 1.618 extension of the last small upward move
TP 2 - is the 0.764 retracement level of the last big upward move and important SR zone.
0.764 retracement of the smaller move is the breakout area.
ABCD presents the move we should see after breaking the minor trendline. Points B and C are important SR levels where we should see a bounce.
Greetings
Kommentera
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TP1 hit, waiting for little retracement before another short.
Hope you made good profit with this one. In my opinion downward move isn't over yet.