We have broken out of a symmetrical triangle, and successfully tested the support. I believe we will go up to the orange lines next. Should prices come back to break the support, I will change my stance to bearish, but for now, for some reason which does not match fundamentals, we are going up.
Note
I was wrong on timing but my position hasn't changed. We went to test supports but I still think we will see more upside in the upcoming trading days. Long weekend is coming so it is unlikely that it will be today but you never know. Trade closed: target reached
First target reached, I am expecting a retracement here but I am no longer interested in longs on this instrument at these levels.
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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.