Disclaimer: Before proceeding, please note that the following information is based on technical analysis and should not be construed as investment advice. Always conduct your own research and, if necessary, seek advice from a financial professional.
Folks, let's delve into what I've been observing in recent market movements. After a period of analysis, I've noticed an intriguing pattern. First, we witnessed a descending wedge pattern, followed by a false breakout to the downside. Then, there was the formation of a double bottom, suggesting strong institutional interest in a particular zone. This pattern was followed by a reversal that has already reached the target of the wedge breakout.
But the story doesn't end there. Recently, I've observed the formation of a new parallel channel, initiated from April 21st. This was accompanied by the creation of a new descending wedge, which, although with a shorter duration, has already reached the projection after its breakout.
Based on these observations, I'm predicting that we're in a wave 3 of impulse. In a short period of time, I anticipate a correction to the bullish zone, with targets between 35 and 32, and a final target around 41. On a broader horizon, I'm projecting a total target around 72.
Now, regarding how to act upon all of this: my suggestion would be to consider buying in the zones indicated on the chart. Upon reaching the first target, it's prudent to realize between 60 to 70% of the position and move the stop to the entry zone. After hitting the second target, you may realize another 20% of the position, leaving the remaining 10% for the third target.
Once again, these are solely my analyses and should not be taken as guarantees of success. The financial market is volatile, and there are always risks involved. Always be prepared and conduct your own analyses before making any investment decisions.
Folks, let's delve into what I've been observing in recent market movements. After a period of analysis, I've noticed an intriguing pattern. First, we witnessed a descending wedge pattern, followed by a false breakout to the downside. Then, there was the formation of a double bottom, suggesting strong institutional interest in a particular zone. This pattern was followed by a reversal that has already reached the target of the wedge breakout.
But the story doesn't end there. Recently, I've observed the formation of a new parallel channel, initiated from April 21st. This was accompanied by the creation of a new descending wedge, which, although with a shorter duration, has already reached the projection after its breakout.
Based on these observations, I'm predicting that we're in a wave 3 of impulse. In a short period of time, I anticipate a correction to the bullish zone, with targets between 35 and 32, and a final target around 41. On a broader horizon, I'm projecting a total target around 72.
Now, regarding how to act upon all of this: my suggestion would be to consider buying in the zones indicated on the chart. Upon reaching the first target, it's prudent to realize between 60 to 70% of the position and move the stop to the entry zone. After hitting the second target, you may realize another 20% of the position, leaving the remaining 10% for the third target.
Once again, these are solely my analyses and should not be taken as guarantees of success. The financial market is volatile, and there are always risks involved. Always be prepared and conduct your own analyses before making any investment decisions.