It looks like the First 3 legs of an Elliot Wave along with the first Move on a ABCD. Price pulling back down the FIB would then put the D target price next in line. If price pulled back past the (A) The move is dead. If Price continues on the UPSIDE it would mean a continuation of the (3)rd Elliot Wave.
This move also looks good on the hour if price reacts at the (B) Ponit and pulls back.
Pulling back past (A) kills the move.
If price does not pull back then it's a contuation of the (3) rd Wave.
The move would then mean testing a zone above €3400 depending on the pullback.
No Pullback - No Move - Please let me know your feedback as I am still learning this theory.
This move also looks good on the hour if price reacts at the (B) Ponit and pulls back.
Pulling back past (A) kills the move.
If price does not pull back then it's a contuation of the (3) rd Wave.
The move would then mean testing a zone above €3400 depending on the pullback.
No Pullback - No Move - Please let me know your feedback as I am still learning this theory.