- Price broke above weekly zone and broke out thru long term downtrend line. Forming Elliot wave sequence, currently on move 4 out of 5 indicating another potential push to the upside to come.
- Price formed consolidation flag after breakout, retraced to the 50% fib level and is now seeing higher lows being formed. Price retested s/r 38% fib level zone on 1h chart and held above moving averages. Ended with a high volume, bullish hammer showing big players stepping back in on the dip.
Stop loss: Placed below previous low of consolidation and 50% fib level
Take profit: At conflucence of short term and long term fib levels
- Price formed consolidation flag after breakout, retraced to the 50% fib level and is now seeing higher lows being formed. Price retested s/r 38% fib level zone on 1h chart and held above moving averages. Ended with a high volume, bullish hammer showing big players stepping back in on the dip.
Stop loss: Placed below previous low of consolidation and 50% fib level
Take profit: At conflucence of short term and long term fib levels