ECLERX | Ideal Retracement Zone Identified

📉 White Lines — Multiple DTF trendlines, including the key falling counter-trendline (CT), were decisively broken. The breakout marks the end of a strong downward structure with excellent follow-through.
🟧 Orange Line — Major Monthly Time Frame (MTF) resistance lies just overhead.

🔍 Breakout Candle:
Exceptionally strong with a close near high.
Backed by 1.83M volume, showing strong institutional interest.
Pattern size is large — adding weight to the structural reversal.

⚠️ Caution: A large portion of the move seems to have already played out within one candle. Chasing here risks poor R:R due to limited space before overhead resistance.

📐 Strategy Setup:
Fibonacci Retracement plotted on the breakout candle.
Ideal entry zone highlighted in green between the 0.382 to 0.5 levels
This zone represents a healthy and probable pullback area, offering better risk-reward alignment for potential continuation.

🧭 Trade Idea: Avoid chasing. Instead, watch for a retracement to the green zone. If price reacts positively there, it could offer a technically strong R:R opportunity while staying aligned with the broader breakout narrative.