Starting from the left
We have price contained in this corrective triangle, completing legs a-b-c-d-e
then we have a push up which appears to be a 5 wave push on the hour charts
all the fib measurements are holding up nicely
right now we are in the wave 4 retracement, price is just below the 382 retesting the trend line of the triangle
I expect this trend line to hold for another push up
Use your confirmations for entry.
Tp is 1.1440 (about 40 pips)
just follow the red arrow up to the green line (labeled projection of wave 5)
Stay tuned... I have a similar set up on a bigger scale, posting soon....
check out this image of a bullish triangle to compare with current chart.
d.stockcharts.com/sc..._patterns/wave19.png
We have price contained in this corrective triangle, completing legs a-b-c-d-e
then we have a push up which appears to be a 5 wave push on the hour charts
all the fib measurements are holding up nicely
right now we are in the wave 4 retracement, price is just below the 382 retesting the trend line of the triangle
I expect this trend line to hold for another push up
Use your confirmations for entry.
Tp is 1.1440 (about 40 pips)
just follow the red arrow up to the green line (labeled projection of wave 5)
Stay tuned... I have a similar set up on a bigger scale, posting soon....
check out this image of a bullish triangle to compare with current chart.
d.stockcharts.com/sc..._patterns/wave19.png