The Upper Orange lines are the 1.272 fib extension levels from previous high
The Upper Yellow lines are the 1.618 fib extension levels from all time highs
The Red lines are the ascending channel trend that the price action has been following during the current uptrend
The projected time frames of price targets are based on the previous time decay from Lows-to Highs-to Lows
The ascending triangle pattern is not charted but the low is $61 and breakout area is located at the indicated buy zones
Ascending triangle pattern = $81-$61= delta of 20
$81+20 = Price target of $101
The Upper Yellow lines are the 1.618 fib extension levels from all time highs
The Red lines are the ascending channel trend that the price action has been following during the current uptrend
The projected time frames of price targets are based on the previous time decay from Lows-to Highs-to Lows
The ascending triangle pattern is not charted but the low is $61 and breakout area is located at the indicated buy zones
Ascending triangle pattern = $81-$61= delta of 20
$81+20 = Price target of $101
Trade closed manually
Sold 19 Feb 21 $90 call at confirmed lower high after price target of $88.75 was reached at $88.50Sold 19 Feb 21 $95 call at following lower high
Note
Comment: There is still some significant supply above the 1.272 extension and the price action quickly equalized the supply/demand imbalance between $87.50 and $88.25 today. If price action cannot break above that $88.50 and hold there are 2 possible lower imbalances to be equalized from $83.75 to $86 and from $81 to $83.Note
Note
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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.
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.