The last major swing high made it higher since my last chart so I had to redraw the fibs.
I would like to see it retrace a bit to around the 0.50 and 0.618 fib levels.
This is my preferred area to scale into an initial long position as I cannot chase price.
Depending on the price action I may take full/half profit just before the 0.382 fib level and trail the stop to lock in profit. If we make new highs from there, we can add to the position in similar fashion and trail the stop again.
I would like to see it retrace a bit to around the 0.50 and 0.618 fib levels.
This is my preferred area to scale into an initial long position as I cannot chase price.
Depending on the price action I may take full/half profit just before the 0.382 fib level and trail the stop to lock in profit. If we make new highs from there, we can add to the position in similar fashion and trail the stop again.
