AEX : new way up ---> target 615
Updated
Unbelievable what an increase since October 30, the importance of not breaking through 530 was enormous, the bulls did an excellent job. With the breaking of zone 575 even the sideways trend has been done and there is again upward space. If you look closely, the zone 575 can also be seen as the neckline of an inverted SHS pattern. If you reverse the size of the head you get a target of 615! This is also the level of the gap that arose on 21/02/20. This can now start to work as a pulling magnet, this will be my focus in the coming weeks.
Today's gap can be a run-away gap, but also count on it that it can still be closed, a test of the neckline is plausible.
It is actually necessary to cool down to use the zone 575 as a springboard. If the springboard breaks, the consequences can be major, but we are not that far, a trend is a trend and the target of 613 is there!
Resistance: 603/613
Support: 583/580/575
As I always do, I regularly provide updates on this idea according to the hourly chart, follow it if you find it interesting!
Success Traders!
Greetings TT
Today's gap can be a run-away gap, but also count on it that it can still be closed, a test of the neckline is plausible.
It is actually necessary to cool down to use the zone 575 as a springboard. If the springboard breaks, the consequences can be major, but we are not that far, a trend is a trend and the target of 613 is there!
Resistance: 603/613
Support: 583/580/575
As I always do, I regularly provide updates on this idea according to the hourly chart, follow it if you find it interesting!
Success Traders!
Greetings TT
Note
Negative divergence in the RSI begins to occur, a sign of fatigue. The green upright support line almost coincides with the MA20! only when it breaks , we can go to springboard 575Note
exciting moment, will the green support line hold or not? RSI !Note
the uptrend line has been broken, the first resistance reaches 603, the MA50 is expected to be looked up in the first place now around 590Note
sideways bouncing in a narrow range, support MA50 and RSI or not a choice should be madeTrade closed: target reached
Hello everyone,The gap of 613 was already quietly closed, the target 615: the calculated value of the inverted SHS pattern in the day chart has also been reached today. Some resistance can be expected here. To be clear, no short signal yet! Just skim some profit
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.