The chart appears to show a completed neutral triangle (a–b–c–d–e), with a breakout emerging above the upper boundary at 11.07.
Wave a looks like a complex structure (possibly elongated flat or flat + zigzag).
The rest of the legs are mostly zigzag forms, consistent with triangle rules.
False breakdown below wave e followed by a strong reversal.
MACD is confirming momentum during the breakout attempt.
As long as price stays above 11.07, this breakout may be sustained. If confirmed, the next target zone could align with the height of the triangle projected upward.
Wave a looks like a complex structure (possibly elongated flat or flat + zigzag).
The rest of the legs are mostly zigzag forms, consistent with triangle rules.
False breakdown below wave e followed by a strong reversal.
MACD is confirming momentum during the breakout attempt.
As long as price stays above 11.07, this breakout may be sustained. If confirmed, the next target zone could align with the height of the triangle projected upward.
Trade active
So far we have been above 11,07. Here is a yearly neowave chart since February 2003. From the end of the neutral triangle there is a possibility of an impulse completed its 4th wave and we might be in a 5th wave targeting around 200 dollars. Hope it works
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.
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.