Very nice inverse H&S shaping up on the weekly chart, trying to breakout after couple attempts in the past month
MACD and RSI both very supportive (MACD histogram in positive territory / RSI above 40)
Check out the accumulation volume in the past 2 months or so (after the capitulation selloff down to around 9.00ish , buyers stepped in and more than absorbed the selling volume)
Headline around 8.80-9.00 / shoulder line around 17.00 / neckline around 12.25
Next 2 trading sessions are crucial, ideally look for a weekly close above 12.25 (neckline) to participate
Calculated target based on the head to neck distance is around 15.68
MACD and RSI both very supportive (MACD histogram in positive territory / RSI above 40)
Check out the accumulation volume in the past 2 months or so (after the capitulation selloff down to around 9.00ish , buyers stepped in and more than absorbed the selling volume)
Headline around 8.80-9.00 / shoulder line around 17.00 / neckline around 12.25
Next 2 trading sessions are crucial, ideally look for a weekly close above 12.25 (neckline) to participate
Calculated target based on the head to neck distance is around 15.68
Comment:
obvious typo for the neckline value should be 10.70 not 17.00
Comment:
damn not my day today i mean SHOULDER line hahhahaha
Trade closed: target reached:
Target reached
Congrats longs
TA
Congrats longs
TA