Viewer Discretion Advised After two failed attempts to break out of this channel, the third time may in-fact be the charm.
This asset i have been following for a while. I only left the parallel channel visable so that you could see the potential confluence zone for a 50% retrace to exactly test that channel line as a resistance.
sitting at the 618 retrace from the low to high.... needs further time to develop...
we can stay in this channel for a while and develop some good momentum
I know its just the hourly. but i hhave a feeling we will come back up to test this area shortly
coming out of a triangle completion which signifies a market reversal
need to hit this final touchpoint in the triangle pattern before breakout, this has been building for 1.5 yrs!! triangle apex should signal market reversal... and is pegged for late december