$XLY 4H timeframe (uptrend)
XLY
4H timeframe
- Uptrend channel (retracing 28th December 2022 lows & 2d February highs)
valid as long as it can hold 143.85$, loss of 146.46 is a big warning.
- In order to spot the potential next targets, I retraced 1st December 2022 highs to 28th December 2022 lows and generated Fibonacci extensions (same principle as for channels). this is the logical retracement I decided to rely on and this is the next logical path: 0>1>1.272 or 1.618> 1.272 or 1 bounce on any of these ones is the confirmation for more upside.
valid as long as it can hold 147.32$ or reclaim it really quick (one or max 2 sessions)
