with a nearly perfect 786 retracement a 127 extention is a good place to look for the completion of the abc correction (abcd pattern). the zone will also be a strong resistance zone based on recent structure.
if we place our stops above the most recent highs we will also have a batpattern completion above us (white) which would help us out if we dont reverse right away.
if we place our stops above the most recent highs we will also have a batpattern completion above us (white) which would help us out if we dont reverse right away.
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