Long-term: (Out of frame) Ascending wedge with three bullish pennants forming.
Mid-term : Rising trendline of the bullish pennant Extended, on its way to retest higher resistance as support.
Ranging in the pennant , flirting with 12000, this top defines the second point of the peak resistance line as seen in the previous bull-flag.
This line ends on the Ascending wedge's support meeting with the low and high support line, and predicts the timing for the next outbreak.
Short-term: Retest support on the high resistance line 11600 - 11700 area.
Now that the pattern has met its outlines, a Mid-Term analyses will follow soon.
Mid-term : Rising trendline of the bullish pennant Extended, on its way to retest higher resistance as support.
Ranging in the pennant , flirting with 12000, this top defines the second point of the peak resistance line as seen in the previous bull-flag.
This line ends on the Ascending wedge's support meeting with the low and high support line, and predicts the timing for the next outbreak.
Short-term: Retest support on the high resistance line 11600 - 11700 area.
Now that the pattern has met its outlines, a Mid-Term analyses will follow soon.
Note
Small bounce on the high resistance line 11750 - 11600Trade closed: target reached
No bounce on the high resistance line.Closed on target.
Note
Analyses : 0.6% Drawdown | R/R 5.6 | TP1 3.3% Profit
MVPMC
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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.
MVPMC
Related publications
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.