ABCDE Triangle still in Play:
Leg D touching TL Resistance @ 9700
Leg E - Target: 9200
In EW: Leg E often retraces 50% between TL Resistance and Support
FIB Ratio: 0.50 = 9200
9200 has liquidity and acted as support 3 times during May on runs to 9800-10000
Breakout from Triangle = Target 10500 Resistance (FEB 2020)
Invalidation = Loss of 8800 ==> loss of ABCDE Triangle and Major Support the month of May
LONG:
Entry 9200
SL 8800
Target 10500
Leg D touching TL Resistance @ 9700
Leg E - Target: 9200
In EW: Leg E often retraces 50% between TL Resistance and Support
FIB Ratio: 0.50 = 9200
9200 has liquidity and acted as support 3 times during May on runs to 9800-10000
Breakout from Triangle = Target 10500 Resistance (FEB 2020)
Invalidation = Loss of 8800 ==> loss of ABCDE Triangle and Major Support the month of May
LONG:
Entry 9200
SL 8800
Target 10500