nagyroland

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Higher Low, Trend Channel

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Elliott waves

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Hope that, we will see the Elliott waves (5 waves). The fifth waves' end is at the Fibo 1.618 (here we can find a strong resistance). Before the 5th wave we can see a little period of bearish move.

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Firstly starting a bearish move from the resistance (you can see the first bearish candle on the 4hr). The bearish move goes to the first strong resistane, witch correlates with a Fibonacci level. After this move starts a bullish trend.

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You can go short to the strong resistance. After this "short" period you can go long to Fibonacci 1.618 (here you can find resistance too).

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After bearish trend the stock steps above the downtrend line. In the circle we can see the accumulation phase.

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Higher low and just going up.

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Head-neck formation