HUDCO is currently in a correction phase in the higher time frame,likely to find its base.
A lucrative opportunity for long positions is evident.
REASONS TO SUPPORT THIS IDEA:
*Monthly fib retracement till 0.618
*Rejection from demand zone[ marked as POI in chart]
*Falling wedge pattern
A bullish breakout above the marked point,followed by a sequence of higher highs and higher lows , could indicate a strong uptrend and potentially in high in higher time frame.
A lucrative opportunity for long positions is evident.
REASONS TO SUPPORT THIS IDEA:
*Monthly fib retracement till 0.618
*Rejection from demand zone[ marked as POI in chart]
*Falling wedge pattern
A bullish breakout above the marked point,followed by a sequence of higher highs and higher lows , could indicate a strong uptrend and potentially in high in higher time frame.
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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.