Vuvuzela Pattern for the JSE ALSI 40 target to blow up to 75000
Well, well, well, we've identified the tumultuous and monotonous pattern on the chart finally.
It's known as a Broadening Triangle or what I call a Vuvuzela Formation.
The price diverges instead of converges in a triangle pattern...
Now this can be a continuation or a reversal pattern. It all depends on the breakout.
Looking at the D&S and liquidity it looks like the JSE really wants to break above the formation and head to new highs of the year.
75,000 is a decent first target...
Also with Smart Money Concepts we can see there is a Sell Side Liquidity Order Block showing how Smart Money is sweeping selling and buying into it, hence there isn't a major push down in price just yet...
I'm bullish with this Vuvuzela. Now we need the JSE to blow up.
It's known as a Broadening Triangle or what I call a Vuvuzela Formation.
The price diverges instead of converges in a triangle pattern...
Now this can be a continuation or a reversal pattern. It all depends on the breakout.
Looking at the D&S and liquidity it looks like the JSE really wants to break above the formation and head to new highs of the year.
75,000 is a decent first target...
Also with Smart Money Concepts we can see there is a Sell Side Liquidity Order Block showing how Smart Money is sweeping selling and buying into it, hence there isn't a major push down in price just yet...
I'm bullish with this Vuvuzela. Now we need the JSE to blow up.
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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