PRACTICE MAKES PERFECT

Oct 4

On the 30-minute timeframe, the inside bar has already broken out. On the 5-minute timeframe, a pullback occurred at the 0.5 Fibonacci area, which I consider to be wave 2 in Elliott Wave theory. My reason for entering the trade is that the candle broke out of the inside bar on the 5-minute timeframe, indicating the potential formation of wave 3. The price has also reached the weekly resistance zone. This is my setup for today.