THANI : Similar pattern after channel breakout It's likely to gap up and reaching 30% to TP 11.40, though this mark up seems weaker than previous mark up due to the mid channel breakout. Hopefully the same pattern happens.
The Thai SET index has been respecting the opened gaps very well in its daily graph. As of 20181009, there are 3 opened gaps at 1680.54, 1629.18, and 1741.96. The one at 1680.54 is about to be closed. Forex Insight Pro 8.0 can help you find gaps in any graph quickly. Search for it in TradingView.com
Trend was likely to be reversal when it shows two higher bottom and 19.0 breakout with peak volume and a gap up afterwards. This is kind of the uptrend confirmation. The target are predicted from the cluster of Fibonacci extension and projection which accidentally equal the peak volume price level in the past months.
Assume selling climax in July 2018 and accumulated for 26 bars. Then it did breakaway gap and marked up(01) for 30% approx. Again, it accumulated for shorter period for 16 bars and later did the breakaway gap which assuming this is in the mark up phase(02). Hopefully, it will reach 30% as a minimum next TP that should not be less that mark up phase(01)....
Heading up to Resistance level around 57
Test 3ATR Support Buy if break prior high (9.00) Stop if close below 3ATR Support