The sample of this setup happens to be on m1 because that's what I was doing at the moment ;) However, this setup is valid on any time frame..
It offers very tight stops.
Apparently the initial drop to 61.8 is early sellers and in my opinion the ensuing 23.6 test is the standard stop hunt procedure.
This post is for informational purposes only. Use at your own risk!
Click chart for larger image
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