Following double bottom pattern formation the price is generally believed to rise at least to its target level, calculated as follows:
Where:
T = TP (target level);
R – resistance level (recent local high);
H — higher high (fluctuates based on basic indicators)
S – stop-limit (distance between current price and prior resistance levels).
Disclaimer
NOT financial advise. Just magic from your local sorcery. Trade responsibly!
-@a1mTarabichi
- T = R + H,
Where:
T = TP (target level);
R – resistance level (recent local high);
H — higher high (fluctuates based on basic indicators)
S – stop-limit (distance between current price and prior resistance levels).
- T = $187.70S = $176.58R = $184.86H = Blue horizontal
Disclaimer
NOT financial advise. Just magic from your local sorcery. Trade responsibly!
-@a1mTarabichi
Related publications
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.
Related publications
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.