From the chart, You can see there is a Double Bottom formations where the re-test is done. From this re-test area, we can also form a pennant from the second bottom.
To support this, I also draw a fib retracement from the bottom to the peak level of re-test. By this fib, it is also supported by many fib levels that is worked before ( such as 0.5 or 0.618). Therefore, The next level of the fib is 1.618 which is in our target area.
RSI also is on a uptrend line. Stoc RSI gives a buy signal.
Based on all signals, my target area is shown in the chart.
Don't hesitate to share any idea, comment or critics ^^.
To support this, I also draw a fib retracement from the bottom to the peak level of re-test. By this fib, it is also supported by many fib levels that is worked before ( such as 0.5 or 0.618). Therefore, The next level of the fib is 1.618 which is in our target area.
RSI also is on a uptrend line. Stoc RSI gives a buy signal.
Based on all signals, my target area is shown in the chart.
Don't hesitate to share any idea, comment or critics ^^.
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.