Standard pattern.
Broke pennant, short when back at the bottom point of the pennant (7860).
Theoretical target is the place where the pennant was broken minus the height of the pennant (see black arrow).
We can see the target is pretty much the 70.5% of fibonnacci. And it also match a support area. So our final target is (7650).
Broke pennant, short when back at the bottom point of the pennant (7860).
Theoretical target is the place where the pennant was broken minus the height of the pennant (see black arrow).
We can see the target is pretty much the 70.5% of fibonnacci. And it also match a support area. So our final target is (7650).