XLE was a good 3d setup. Price formed a cup w. handle pattern while the trigger came about at the end of the handle. Two ways to measure for a target; measure A-to-B as indicated on the 15-min chart (correction; the 'A' should be 4 bars over, being that it's a double bottom the extension is the same). The other measurement indicated on the 5-minute chart is a seed wave. Otherwise the PDL was a realistic target without using Fib.s.
I traded BHI today very briefly, but not to the extent that it set up as indicated. The gap down was a strong impulse that created a reverse divergence. What followed was a seed wave where price succeeded in reaching a 100% extension. The 5-min chart set up a First Cross long entry where the Slow line goes positive just as the fast line is correcting into it:
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