we have confirmation of the bullish harami cross and tweezer...

we have confirmation of the bullish harami cross and tweezer bottom playing out, confirmation came today.

im watching the 50% fib @ .495 to go before my entry with a target of .575 which is the black dotted line.

i think the red 50% fib @ .61 is of importance and will offer some resistance, so thats why my closest upside target is .575

thats gives you 16% upside with a stop below the tweezer bottom/ bullish harami cross pattern of (6%)

so thats above the >2:1 ratio i like to use.

the high of the wave (1) black dotted line is of concern but i think considering the extended downside... should get through that.

if you look @ how price has traded at the lows between the 38% and 50% fib to when it broke out and ran to the larger 23% fib (above @ .61cents) to where it is today back under the 50% fib, shows my logic why im waiting for for the .495 area to break and why i expect max upside to the 61 cent area as that is the 23% fib line.

this gives me MY parameters im comfortable with, its not for every one but it gives the haters some reason behind what would be random numbers and lines.

the blue line at 75 cents is still the larger target but its not in reach within my timeframe, as the way i draw my chart follows a strict process and i just follow the possible parameters governed by the tools i choose to use to map price.

all the best