We success to hit expanding triangle resistance at previous analysis and we have pullback rightnow.
As you can see,
we have 14 degree parallel channel up here, and bullish stop after hit fibonacci 38.2 at resistance channel.
In this analysis I use internal fibonacci pattern 2,
Internal fibonacci pattern have its own ratio,
If price drop from fibonacci 38.2,
entry level at fibonacci 14.5 at 6265
and profit target at fibonacci 61.8 at 7507
But we have resistance at ABCD fibonacci 1.414 at 7159,
so this level become our 1st target.
Buy zone : 6396 to 6265 (fibonacci support)
target 1 : 7159 (fibonacci 1.414 resistance line)
target 2 : 7507 (internal fibonacci projection)
Good luck.
Previous analysis :
Note : to understand more about this setup, please check our video analysis
As you can see,
we have 14 degree parallel channel up here, and bullish stop after hit fibonacci 38.2 at resistance channel.
In this analysis I use internal fibonacci pattern 2,
Internal fibonacci pattern have its own ratio,
If price drop from fibonacci 38.2,
entry level at fibonacci 14.5 at 6265
and profit target at fibonacci 61.8 at 7507
But we have resistance at ABCD fibonacci 1.414 at 7159,
so this level become our 1st target.
Buy zone : 6396 to 6265 (fibonacci support)
target 1 : 7159 (fibonacci 1.414 resistance line)
target 2 : 7507 (internal fibonacci projection)
Good luck.
Previous analysis :
Note : to understand more about this setup, please check our video analysis
Trade fechado: objetivo atingido:
this analysis close, target reach