So first off you can see 4 purple trendlines. The top and bottom ones can show the channel we have. The one to the inner left shows the connecting lows inside and the other to the inner right shows the strong up movement. I then took the Fibonacci tool from the top left to the bottom and that shows the 618 retracement which also confirms a triple top and where the purple trendline all meet. If you didnt get it around the blue box you can wait until the break of that steep trendline where the red circle is. Lastly I took the Fibonacci Extension tool which takes 3 points. I took it from the top left, to the bottom right and then up to the 618 extension line to figure out the red take profit areas.
Commentaire:
So you can see a big green candle stick formed and broke the purple trendline and the blue box that has the triple top which acted as resistance. Really big candle sticks usually are fakeoust so I want to wait for price to come back down to test that resistance that now turns to support.