Price chart formed a 10 week-long ascending triangle with the upper boundary acting as strong resistance at 15.14 levels. The upper boundary was tested several times over the course of the chart pattern. The daily close above 15.59 levels confirmed the breakout from the 10 week-long ascending triangle with the possible chart pattern price target of 20.40 levels.
Note
The daily close of 14.17 breached chart pattern support at 15.14 levels. A daily close below the minor low at 13.70 would negate the pattern. Future price action would then likely morph into a different pattern.Trade active
Updating stop-loss to intermediate (6H) low at 13.90 levelsTrade closed: stop reached
Price confirmed stop at 13.90 (6H)
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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.