WTL = top and bottom Weekly Channel
DTL = top and bottom of Daily flat correction
The pair have been in a Daily channel close to the bottom of the Weekly channel
I've been following it down for a few weeks now and it is approaching the 78.6% fib retracement of the previous up move.
This has a high probability of going long to at least the Daily Channel
Once there we can look at the prospects of going to the top of the weekly channel
Stops below the WTL
Don't jump into this I'll post further charts on a lower time scale
Good luck
Steve
DTL = top and bottom of Daily flat correction
The pair have been in a Daily channel close to the bottom of the Weekly channel
I've been following it down for a few weeks now and it is approaching the 78.6% fib retracement of the previous up move.
This has a high probability of going long to at least the Daily Channel
Once there we can look at the prospects of going to the top of the weekly channel
Stops below the WTL
Don't jump into this I'll post further charts on a lower time scale
Good luck
Steve
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