Price completed ABC wave. Now we're in the abcde corrective wave. Looking for price to react off descending trendline
Stop SL. If it breaks upwards, it means its going to retest the outer descending trendline. Awaiting break of the ascending wedge...
Multiple confluences: 1. 618 retracement 2. 3rd touch of channel support 3. Double bottom on smaller timeframe indicating a reversal (to the upside)
Price currently at 0.618 retracement. Waiting for ascending trendline to be broken. Will be looking to scale in and take profit at 1500 pips.