1. This Call had a vary shallow retracement of less than 23.6% on the daily time frame 2. When this happens, the D extension shifts to either the 1.18 or the 1.27 extension. 3. In this situation, the 1.18 extension has been hit and price has consolidated.
Rules that have been achieved: 1. Daily D extension hit after shallow retracement. 2. Trend line has been broken
What needs to happen for entry? 1. Looking for a break out of consolidation to the downside. 2. Looking for an entry after the break and retest of the consolidation zone.
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