Why This Setup Caught My Eye
Multi-year rising channel: Since late 2022 price has respected a neat parallel channel; we’re now testing the upper rail.
Fresh bull-flag breakout: The June pullback carved a tight triangular flag. Last week’s high-volume close above $83 confirmed the breakout.
Measured-move logic: Flagpole ≈ $15 (from the March swing-low $68 → May swing-high $83). Projecting that height from the June pivot ($74) lands at $89-90 — perfectly matching the 100 % Fibonacci extension on my chart.
Volume-profile tailwind: A low-volume node spans $86-91, suggesting limited overhead supply until the top of the target box.
Multi-year rising channel: Since late 2022 price has respected a neat parallel channel; we’re now testing the upper rail.
Fresh bull-flag breakout: The June pullback carved a tight triangular flag. Last week’s high-volume close above $83 confirmed the breakout.
Measured-move logic: Flagpole ≈ $15 (from the March swing-low $68 → May swing-high $83). Projecting that height from the June pivot ($74) lands at $89-90 — perfectly matching the 100 % Fibonacci extension on my chart.
Volume-profile tailwind: A low-volume node spans $86-91, suggesting limited overhead supply until the top of the target box.
VM
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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.