as we see total trend is ascending
tips :
1 after a midterm descending corretive trend it formed a head and soulder pattern which with macd positive divergence was a signal for the the end of correction
2 : by 7 july candle which is a strong ascending one the descending trend line was broken up and the buy signal was presented.
3 : when price reached to the vital static resistance made by candle 20 jan 2025 it stoped and formed a wedge pattern which is obvius on daily chart ,
4 : then we witness that the price broke up the wedge and now it is testing the static resistance level .
if it can break up that static resistance level I believe the first target price will be channel midline.
so we are waiting for closing weekly candle and starting new one , and for better decision we should control daily chart .
thank you
tips :
1 after a midterm descending corretive trend it formed a head and soulder pattern which with macd positive divergence was a signal for the the end of correction
2 : by 7 july candle which is a strong ascending one the descending trend line was broken up and the buy signal was presented.
3 : when price reached to the vital static resistance made by candle 20 jan 2025 it stoped and formed a wedge pattern which is obvius on daily chart ,
4 : then we witness that the price broke up the wedge and now it is testing the static resistance level .
if it can break up that static resistance level I believe the first target price will be channel midline.
so we are waiting for closing weekly candle and starting new one , and for better decision we should control daily chart .
thank you
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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.