TAIWAN TWIXUSD - Different analyses, Different targets.
Updated
The chart above displays a clear breakout to the upside from a 8 month long symmetrical triangle pattern.
The question now is where is this going? what could be a potential target?
Every time I open this chart blank I see something new. Based on different types of analyses below are 3 possible targets.
Option 1: Inverse Head and Shoulders
Option 2: Fibonacci Extension
Option 3: Uptrend Channel (5 year long)
No doubt targets for option 1 and 2 could be reached in a few years however given how extended the current move looks my immediate area of focus would be the top of option 3's uptrend channel. A pull back from there to the 420 region and a subsequent bounce from that area would seem like a reasonable scenario.
This analysis is for my own reference. This is not trading or financial advice.
The question now is where is this going? what could be a potential target?
Every time I open this chart blank I see something new. Based on different types of analyses below are 3 possible targets.
Option 1: Inverse Head and Shoulders
Option 2: Fibonacci Extension
Option 3: Uptrend Channel (5 year long)
No doubt targets for option 1 and 2 could be reached in a few years however given how extended the current move looks my immediate area of focus would be the top of option 3's uptrend channel. A pull back from there to the 420 region and a subsequent bounce from that area would seem like a reasonable scenario.
This analysis is for my own reference. This is not trading or financial advice.
Trade active
Just hit the top of the channelDisclaimer
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.