Price is pushing into the 61.8% resistance level on the daily and has found a little consolidation channel. If we can break above this channel, I'd long to the next key level (78.6% on the daily), possibly taking some profit along the way if we come into resistance earlier.
If we form market structure breaking above the channel, my stop loss will be just below the...
Broke above ascending triangle, creating HH then had a pullback into support zone.
Entered half my position after this bullish candle (strong volume). I've set another buy order if price pulls back further into support zone to 50% fibs (average entry will be 38.2%).
Stop loss is just below 61.8% which would also be a break in trend.
Could take 6 days to play out.
I will enter this trade if price breaks out of this descending triangle with strong bullish candles (bullish engulfing, bull hammer) or if it breaks out and has a small retrace for confirmation.
My first profit target is at 38.2%, then at 23.6% (resistance at both these levels).
This may take a day or 2 to present a good entry, then 5-6 days to hit my first target.
Ascending triangle into this resistance zone. If we have some solid bullish candles closing above this zone, look to enter long (if the triangle breaks, start looking for potential shorts instead).
Stop loss should be below the zone in case we have a little pullback/wicks to the downside.
First take profit is at daily resistance (2460), then next target is...
