A few days ago I went in Long and it hit Take profit, now according to a similar technical analysis I have put a sell stop at 122.115.
As you can see, i have formed an ascending structure which it looks like it will be bouncing off the top and head towards the bottom. Also if you have seen all my published technical analysis you will notice that this could follow the same pattern. I have placed a Sell Limit at 109.775.
Buying opportunity once it hits the bottom of the descending structure.
Before this becomes a buying opportunity I am waiting for it to bounce back off the top structure and make a 3rd touch. I have set my Buy Limit at 80.900.
Its a buy opportunity once it hits the bottom line
As you can, this is a selling opportunity as it has hit the resistant line and bounced off.
It looks like its retracing at 0.5 on the Fibonacci grid. Meaning that its a shallow trend so i'm expecting it to go to a new high. Also the trend lines show the same.
As you can see on the weekly chart, the trend lines indicate that its going to be a Long this week as it has also hit the support line.