Hello everyone, this is my first idea which I'm sharing, its just my opinion and I'm not much of an expert here so don't rely on it much; less being said lets get into it.
So I have pretty much labeled everything on chart, but to explain it more carefully I will write everything down.
we have been in a long down trend which we broke out and price been rising since, by hitting the neckline resistance zone, we had this correction which can also be considered as pull back to breakout zone.
as you can see there is a good support zone below the neckline which price showed reaction to and bounced off a little bit and stopped us from going further down.
I believe the bigger uptrend is starting and we are about to see some rises in price in near future.
if price continues to go up to retest the neckline, it will complete a heads and shoulders trend reversal pattern.
with that being said, my tp zones will be :
TP 1 : 23.45
TP 2 : 24.13
TP 3 : 24.58
Let me know what yall think in comment section below and good luck in your trades.
So I have pretty much labeled everything on chart, but to explain it more carefully I will write everything down.
we have been in a long down trend which we broke out and price been rising since, by hitting the neckline resistance zone, we had this correction which can also be considered as pull back to breakout zone.
as you can see there is a good support zone below the neckline which price showed reaction to and bounced off a little bit and stopped us from going further down.
I believe the bigger uptrend is starting and we are about to see some rises in price in near future.
if price continues to go up to retest the neckline, it will complete a heads and shoulders trend reversal pattern.
with that being said, my tp zones will be :
TP 1 : 23.45
TP 2 : 24.13
TP 3 : 24.58
Let me know what yall think in comment section below and good luck in your trades.
Trade closed: target reached
Well, this one played out really well, it could make a great deal for anyone taking it, enjoy. from now on we gotta see if it can break out of the resistance on top ( green line )
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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.