not looking fro specifics in price targets as of yet as im testing a new theory, just a general area labelled "box1" and "box2"
this theory captures the previous ares of wicks and uses those as support and resistance , one established the area is looking to find a 3rd touch on the trend line , (first arrow pointing towards it) to then shoot up for a long
simple falling wedge on the weekly, BIG bull power last week to continue through the pattern to cause an outbreak, TP1 set to a resiatance level, will more than likely retest on break out and then go for TP2 on further stronger resistance on the weekly.
Trade talks have seemingly calmed down at the moment, 1480 is a big psychological number i believe would needed to be reached to begin following the bullish uptrend. That being said, if that trend line is broken we may see a bit SHORT to 1430.
Trying to gain reputation points so my help would be greatly appreciated.
The mother of all head and shoulders.
4 hour qualifying head and shoulders, due to trade deals and upcoming Powell speech today, I believe we are head in the long run for a target of 1476tp
Previous charts where not as accurate as I anticipated but both targets still hit.
Trying to gain reputation points, so any help or thoughts would be appreciated.
Major resistance at 1508, there is a strong channel in a down trend. I have no reason to believe an outbreak right now due to China having “good talks” with USA. Therefore driving the price down.
My entry was 1508 short
Following my previous chart the tragectory of the channel seems to be showing signs of weakness and it may break, nevertheless there is previous structure for the channel to go into a less strap decline into the 1480 zone showed by the yellow trend lines/blue