Correction ended back in mid August. Accumulation nearing final phase. pattern could play out though I do not think its very likely. I assume we will dip again and retest the next - which will be our entry...
We are waiting to see if price will continue to drop and retest the lower support. Looking to go long at around 1850. See detailed screenshot below, using Bottomfinder to find best local entry. Using the prior BTF signals we can establish a range of likely entry. Wait for the strong bottom signal or when bullfilter value retests the lower channel boundary.
The green lines represent target take profit levels. We suggest cashing out 15% at T1, 40% T2, 40% T3, 5% T4 (or let it ride if it still looks ).
Stop Loss suggested at ~1500, which is below the liquidity pool and 3 established local support levels.
Upon completion of T1 move stop loss to entry point to secure a risk free trade. Additionally continue moving stop loss up by one target each time a new target it reached. i.e. when T2 is reached, move stoploss to T1 level.
This way you can ride out dips with no anxiety and automatically exit the trade in profit should you not be around to monitor!