Use fib exp for second target it needs to touch at least two times
DONT TRADE IF GO DIFFERENT WAY USE FIB EXP FOR SECOND TARGET TWO DIFFERENT ANALYSIS EN DIFFERENT HOURS
USE FIB EXPANTION 100 LEVEL DONT TRADE IF GO DIFFERENT WAY
TREND CONTINUATION IF GO DIFFERENT WAY WE WILL NOT ENTER THIS TRADE
We need to wait for break out and see the trend continuation
We will wait till finished the retracement and see if touch our line
We need to wait to break and close bellow the resistence line
The following chart illustrates a bearish butterfly example
When you draw a horizontal line along a series of highs remember to look for a rising line along the lows at the same time. Not only does the ascending line of lows confirm the trend continuation, but also provides you with a ready stop loss level at this ascending/descending support line.
The price is falling to make new lows. The probability is high that the downtrend is going to continue...