The small bounce off of confluence is losing steam & 
TXN looks to finish completing this Bullish Bat Pattern. Once the consolidation here (green symmetrical triangle) & the confluence area ~ $55.89 breaks it should move to the $52.46 target (161.8% fibs & ~ the target area of the back side of the symmetrical triangle)). From there I'm expecting a move to at least the 61.8% of A-D at ~$55.90 (same confluence area) as an initial target. With the Bat pattern (retrace to continuation pattern) I expect the bounce to be quick & most likely move past the initial long target.
You could say I'm short until it's time to get long ;) Good Luck! Feel free to let me know your thoughts on this :)
TXN looks to finish completing this Bullish Bat Pattern. Once the consolidation here (green symmetrical triangle) & the confluence area ~ $55.89 breaks it should move to the $52.46 target (161.8% fibs & ~ the target area of the back side of the symmetrical triangle)). From there I'm expecting a move to at least the 61.8% of A-D at ~$55.90 (same confluence area) as an initial target. With the Bat pattern (retrace to continuation pattern) I expect the bounce to be quick & most likely move past the initial long target. You could say I'm short until it's time to get long ;) Good Luck! Feel free to let me know your thoughts on this :)
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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.