JICPT| Chewy bullish setup with target of 120!
Updated
Hello everyone. I just identified a nice bullish setup of Chewy on the daily chart. Let's look at the higher timeframe first.
Weekly: Price is trying to challenge the upper boundary of the range. Once it firmly closed above $92, the target would be previous high of 120 using measured move tactics.
Daily: The uptrend channel has been respected well. The wick candle of yesterday indicated buying pressure inside the demand zone.
This is a brief multi-timeframe analysis. I don't go to lower timeframes, e.g. 60m.
Give me a like if you're with me. Thanks for your support.
Weekly: Price is trying to challenge the upper boundary of the range. Once it firmly closed above $92, the target would be previous high of 120 using measured move tactics.
Daily: The uptrend channel has been respected well. The wick candle of yesterday indicated buying pressure inside the demand zone.
This is a brief multi-timeframe analysis. I don't go to lower timeframes, e.g. 60m.
Give me a like if you're with me. Thanks for your support.
Note
Momentum looks goodNote
Nice rally. The violation of the upper channel indicated strong momentum to the upside. 
plan your trade and trade your plan
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