We have seen a nice double top form, price dropped, then pulled back to a 618 Fib level, this could be the perfect setup for a 2618 trade.
Momentum down would confirm the entry then if we break the neckline, I will be looking at targets of -27 & -618, possibly ride it down further if the wave is strong.
Indicators support this move on the 1hr time frame. Good luck :)
PS, If anyone doesn't know or not heard of a 2618 setup, the 2 simply means double ie, Double top & the 618 obviously means the pullback to the 618 Fib level = 2618. They are meant to be 60% accurate, so hopefully this one will be in that 60% bracket & make some $£$£$ :)
Momentum down would confirm the entry then if we break the neckline, I will be looking at targets of -27 & -618, possibly ride it down further if the wave is strong.
Indicators support this move on the 1hr time frame. Good luck :)
PS, If anyone doesn't know or not heard of a 2618 setup, the 2 simply means double ie, Double top & the 618 obviously means the pullback to the 618 Fib level = 2618. They are meant to be 60% accurate, so hopefully this one will be in that 60% bracket & make some $£$£$ :)