The striking similarity in price action is that all the key levels marked 1-4 have basically been respected. Essentially what I'm looking for now is where price stalls number 4 far right and begins to retrace so I can plot the fib tool looking for that 50% to see if it will indeed respect that level for a potential move higher.
The current 50% circled on the right shouldn't be taken seriously because I still do not know where price will ultimately retrace but I'm assuming it "could" reach a similar level as we saw at number 4 on the left of the chart close to 248/249.
The current 50% circled on the right shouldn't be taken seriously because I still do not know where price will ultimately retrace but I'm assuming it "could" reach a similar level as we saw at number 4 on the left of the chart close to 248/249.