Can see we have a channel, in which the first middle section has formed, therefore for this to complete it needs to reach back to the top of the channel, and as we have broken a prior high we are now coming back to retest before continuing higher.
The outer larger channel is indicating a bullish run, TP1 is for reference but I plan to hold this for a while and hopefully even break the outer channel. Minimum aiming for the top of trend line at tp2 and reassess how it moves
The outer larger channel is indicating a bullish run, TP1 is for reference but I plan to hold this for a while and hopefully even break the outer channel. Minimum aiming for the top of trend line at tp2 and reassess how it moves
Note
spotted an outer channel, therefore tp2 is realistic as first tp, where we could even get back in on a sell. see comment section for pic
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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.