Support around the yellow horizontal line is being tested multiple times, making it critical.
If price breaks above the pink descending trendline, especially with volume, it could signal a trend reversal or bullish continuation.
A breakout above the pink descending trendline with solid volume (look for a strong green candle closing above the trendline).
Confirm with:
Price holding above horizontal resistance (~same yellow line as current upper range)
📍 Entry Zone:
Approx. just above the recent lower highs (watch that pink trendline area)
🎯 Target Zones:
First target: The recent high range (top of the sideways range)
Second target: The peak of the prior rally (around the December highs)
Third target (stretch): Measure the previous move (flagpole) and apply it from the breakout point
🛑 Stop Loss:
Just below the most recent swing low (under horizontal support)
If price breaks above the pink descending trendline, especially with volume, it could signal a trend reversal or bullish continuation.
A breakout above the pink descending trendline with solid volume (look for a strong green candle closing above the trendline).
Confirm with:
- Volume spike
- 9 EMA (yellow) crossing above 21 EMA (red)
Price holding above horizontal resistance (~same yellow line as current upper range)
📍 Entry Zone:
Approx. just above the recent lower highs (watch that pink trendline area)
🎯 Target Zones:
First target: The recent high range (top of the sideways range)
Second target: The peak of the prior rally (around the December highs)
Third target (stretch): Measure the previous move (flagpole) and apply it from the breakout point
🛑 Stop Loss:
Just below the most recent swing low (under horizontal support)
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.
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.