INJ setup
This INJ setup, is has a strong bottoming pattern.
To the left is a strong move down with a hard bounce. This level would be identified as a strong support level.
The marked continued to go down and the broke the support. it then flipped to resistance but right below INJ formed a rounding bottom and eventually broke through hard.
Now the price is coming down to that same level, and it should act as a strong support area.
INJ is forming a Adam and Eve rounding bottom, which is a strong signal on a reversal
A breakout of the triangle, - depending on when it breaks has the capability to reached the breakout level of the rounding bottom.
If this setup plays out perfectly there is a 120% profit potential over time..
To the left is a strong move down with a hard bounce. This level would be identified as a strong support level.
The marked continued to go down and the broke the support. it then flipped to resistance but right below INJ formed a rounding bottom and eventually broke through hard.
Now the price is coming down to that same level, and it should act as a strong support area.
INJ is forming a Adam and Eve rounding bottom, which is a strong signal on a reversal
A breakout of the triangle, - depending on when it breaks has the capability to reached the breakout level of the rounding bottom.
If this setup plays out perfectly there is a 120% profit potential over time..
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.