ABCDE Triangle still in Play:
Leg D touching TL Resistance @ 9700
Leg E - Target: 9200
In EW: Leg E often retraces 50% between TL Resistance and Support
FIB Ratio: 0.50 = 9200
9200 has liquidity and acted as support 3 times during May on runs to 9800-10000
Breakout from Triangle = Target 10500 Resistance (FEB 2020)
Invalidation = Loss of 8800 ==> loss of ABCDE Triangle and Major Support the month of May
LONG:
Entry 9200
SL 8800
Target 10500
Leg D touching TL Resistance @ 9700
Leg E - Target: 9200
In EW: Leg E often retraces 50% between TL Resistance and Support
FIB Ratio: 0.50 = 9200
9200 has liquidity and acted as support 3 times during May on runs to 9800-10000
Breakout from Triangle = Target 10500 Resistance (FEB 2020)
Invalidation = Loss of 8800 ==> loss of ABCDE Triangle and Major Support the month of May
LONG:
Entry 9200
SL 8800
Target 10500
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.