- 5 clear points
- 1 and 4 at same price (0.618)
- each retracement was confirmed with Trend-Based Fib Extension
Now after an impulse, there's always some type of consolidation, which is what we got with this breakout.
I measured breakout by placing 0.236 right below and we can see how it went straight for 0.886 -0.786 retracements and began continuation, I expect to sell all the way to -0.27 (0.786 from impulse at same price).
Good Trading. - 4h Chart
I measured bearish flag by placing 0.236 right below flag and we can see how the top is at 0.618, now trade is bearish all the way to -0.27 (same area as 0.382)
This trade is going tu give us our first major retracement for 1h analysis.
Good Trading. - 15min Chart