1. This Call had a vary shallow retracement of less than 23.6% on the daily time frame
2. When this happens, the D extension shifts to either the 1.18 or the 1.27 extension.
3. In this situation, the 1.18 extension has been hit and price has consolidated.
Rules that have been achieved:
1. Daily D extension hit after shallow retracement.
2. Trend line has been broken
What needs to happen for entry?
1. Looking for a break out of consolidation to the downside.
2. Looking for an entry after the break and retest of the consolidation zone.
2. When this happens, the D extension shifts to either the 1.18 or the 1.27 extension.
3. In this situation, the 1.18 extension has been hit and price has consolidated.
Rules that have been achieved:
1. Daily D extension hit after shallow retracement.
2. Trend line has been broken
What needs to happen for entry?
1. Looking for a break out of consolidation to the downside.
2. Looking for an entry after the break and retest of the consolidation zone.