- First of all, we got a XABCD pattern with the D leg completed at the max levels of the last week. (0.7990)
This give us an indication that the market is about to go retest a new below the.
- Second, for the AB leg, we have the 1.272 Expansion being the actual consolidation level of the chart is the actual consolidation level of the price
- Third, for the CD leg, we have the 0.786 level that matches with three precedent resistance peaks (at about 0.7848)
We are expecting a retest of those levels
- Finnally, once those levels tested, we expect the price to go until the 0.786 Fib level of the AD line