The WRX price shows an increase of +37% today. As part of our setup from February 27, it currently gives +38.73%, at the peak +49.26%.
The expected take profit is still $0.4399, about +74%. Above two volume levels and below the 1.618 Fibonacci level. The key reason is the EMA 200 of the weekly TF.
Now at $0.4504. The impulse can hit there and backfire.
On the weekly timeframe, #WRX retains the LONG signal on the EMA Ribbon. There are still 2 hours and 40 minutes until the weekly candle closes, but most likely it will not go anywhere.
To continue working off the target with impulse, it is important to gain a foothold above the volume level of $0.3332. While the continuation of the impulse is a priority, on the way to the goal you need to break through only one volume level of $0.3964, but also the target of 1.618 according to the local Fibonacci, rate of $0.4418.
