Due to the fact the price didn't break the upper line in past and went slightly downward so here is the update to the chart a new opportunity for long position another break setup so nothing else i'll update once i see something new...
1) Buy Limit 1.1080 SL 1.0880 TP 1.1500 = 420 pips TP 2) Buy Limit 1.0930 SL 1.0800 TP 1.1500 = 570 pips TP Ramane de urmarit Strapungerea / Testarea si Confirmarea nivelului 1.1130 Fundamental mai mult politic ar putea influenta miscarea in sens invers dar economic EUR este in crestere! Cel mai probabil va urma o miscare laterala pe o perioada. Pe la...
Target 1 = 1.1068 Target 2 = 1.1252
Magellan seems to have broken out of a longer consolidation. The measured move of the channel points to a move of about 15% so I would take profits on a momentum loss at a first target around 72 or a little before.
Waiting for the price to breakout the channel in an up trend. Till that moment, i don't expect much volatility
From a technical perspective the $230.65 resistance is a critical area for the upward break and any dip under $217.56 support should be watched as a change in momentum... In the medium-term Elliott Wave Cycle and the Fibonacci Retractment suggest that $244.73 can be seen as a Target with a stop loss at $217.56... Any comments or suggestions would be much appreciated...
Enough said, we are done with the dump. On the way to $680 , or even the uppermost target of $720 . Sit tight and watch! Not the time for any shorting... :) Everything's screaming BUY BUY BUY! Credits: LowPro & LazyBear for the indicators.