Very nice inverse H&S shaping up on the weekly chart, trying to breakout after couple attempts in the past month
MACD and RSI both very supportive (MACD histogram in positive territory / RSI above 40)
Check out the accumulation volume in the past 2 months or so (after the capitulation selloff down to around 9.00ish , buyers stepped in and more than absorbed the selling volume)
Headline around 8.80-9.00 / shoulder line around 17.00 / neckline around 12.25
Next 2 trading sessions are crucial, ideally look for a weekly close above 12.25 (neckline) to participate
Calculated target based on the head to neck distance is around 15.68
MACD and RSI both very supportive (MACD histogram in positive territory / RSI above 40)
Check out the accumulation volume in the past 2 months or so (after the capitulation selloff down to around 9.00ish , buyers stepped in and more than absorbed the selling volume)
Headline around 8.80-9.00 / shoulder line around 17.00 / neckline around 12.25
Next 2 trading sessions are crucial, ideally look for a weekly close above 12.25 (neckline) to participate
Calculated target based on the head to neck distance is around 15.68
Note
obvious typo for the neckline value should be 10.70 not 17.00Note
damn not my day today i mean SHOULDER line hahhahahaTrade closed: target reached
Target reached Congrats longs
TA
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.
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.