Long Idea on REFRREFR has come into a major monthly level. Upon doing so last time we had a nice expansion on the weekly putting in a triple top then contracting back to igniting level. As well pulled back into the weekly Demand we put in a falling wedge. Looking at the 4H, we had a clear break above the wedge and were in the retest move as the market closed to finish off 2023 trading. Liquidity has been built at the triple top and along the way down as well. Not an A+ setup to me by any means as there are a few other confluences I would like to have seen along with it but I think it is still a good opportunity with Asymmetrical risk potential. Will be targeting the triple top overall but I have targets at $1.86 and $2.85 along the way. No more than a .15-.20 Cent stop.
As always this is not financial advice, this is just my plan for my own trade.
May 2024 bring you much success in your trading. Happy New Year
-TrendChaser
