Long after the pulling back is finished
Mis à jour
Within an ascending channel, and after a breakout of the long descending channel, which it broke with high volume and a significant candle.
If it corrects and is supported on the channel from the outside (and there is also a support line from the daily chart) - the target is up towards 77.
Another point about the analysis: the rising triangle on the left side is my way of marking a significant candle that swallows the rest, in this case, the big green candle. Its bottom is also the stop line.
Another good sign is that its bottom is at the exact same point as the red candle that preceded it.
Usually, if after a pulling back of such a candle (and it can also reach 88 Fibonacci) it starts to rise - the target is the entire size of the candle.
If it corrects and is supported on the channel from the outside (and there is also a support line from the daily chart) - the target is up towards 77.
Another point about the analysis: the rising triangle on the left side is my way of marking a significant candle that swallows the rest, in this case, the big green candle. Its bottom is also the stop line.
Another good sign is that its bottom is at the exact same point as the red candle that preceded it.
Usually, if after a pulling back of such a candle (and it can also reach 88 Fibonacci) it starts to rise - the target is the entire size of the candle.
Note
Now reached the 38 Fibonacci level.Although it can go up from here, but personally, I prefer not to buy yet.
It's too obvious (for computers, and for those who don't understand...).
I would love to see it rise to 75.5 as a good sign for buyers, but I will wait for a deeper correction.
In case he "runs away" - there are enough other deals...
Note
The truth is, I haven't entered yet.First of all - there is a downward trend line and I want to examine what will happen there.
Second thing, it didn't reach the bottom of the rising channel (my preference).
And one last thing - it's always worth waiting for a second leg... it's better to wait for the next deal, than to regret the trap of the current one.
There are a thousand more fish in the sea :-)
Note
Second leg is already here...Note
buy 74.55stop 73.914
tp - later..
Note
The big test has arrived:
Returning to the rising channel? Or continues into the descending channel?
In retrospect - I should have waited for this point... but everyone is wiser after...
"No pain - no gains"
Note
It seems pretty clear that we have entered back into the descending channel.
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