We can see how this entire consolidation is an Ending Channel
-5 points (Not that clear like an )
- 0-1 same distance as 4-5
- take profits around 0.786 - 0.886 area
after to much consolidation there's always a clear impulse with this type of patterns (Ending Channel and )
Price retraced exactly at 0.886 and at this point I saw this
- A-B must touch 0.5, but cannot touch 0.618
- B-C must touch 0.618, but cannot exceed A (FIbo A-B) or just keep an eye on that 0.236
- D completion at 0.886 (Fibo X-A)
- take profits at 0.382 and 0.618 (Fibo A-D)
I expect price to complete this for continuation.
formed a bearish Elliott impulse between A-B, as we know after an Elliott Impulse there's certain consolidacion before further movement, so I measured bearish impulse by placing 0.236 below consolidation and got exactly 0.618 as higher high for a perfect sell towards -0.27, which is around 0.886 retracement for D completion.
I expect price to go bullish at this point, fibonacci measurements have been modified with two take profits (on chart)
Good Trading. - 4h Chart