Ascending Triangle - Bullish to double top @ $13,000~
Updated
Bullish fractal is forming. Ascending triangle. Bullish crossover of Fisher Transform. Expected to play out as per pink arrow.
Note
Long now from 11050-11200. We should have one more touch of the ascending triangle support on the smaller time frames before we start our move up. Trade active
Note
Expecting leg up to the top resistance of the triangle very shortly. Note
Gearing up for a breakout of this small ascending triangle within the larger bullish fractal that will be the catalyst for the move up. Note
Circles highlight parabolic SAR flip on 15 minute chart, as well as fischer transform bullish crossover.Note
Break out of small ascending triangle. Stop moved to in profit. We will find brief resistance at the light orange line above; before breaking out to the upside with a great big green candle. This will take us up to 11,600-11,700 where we will again find brief resistance before an even bigger break out. Note
Ranging next 24-36 hours between 11,500 and 12,100. Heaps of opportunities for scalpers between these levels. After we finish ranging we move up again to approximately 12,200-12,300 for a short period of ranging before the next larger move up to high 12's. Note
One last leg up to come soon to form the double top. Note
About to see next leg up Trade closed: stop reached
Stopped out in profit (11,077 to 12,719 = min 14.82% profit on zero margin). Double top reached (albeit not quite as high as hoped). New idea coming shortly.
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