We can clearly see a large triangle formation along with a well-defined channel, which together outline the structure the price is likely to follow in the near future.
Based on this setup, the price is expected to move toward the highlighted targets as long as it respects the channel and continues developing within this broader triangle pattern.
There is also a possibility that the price may drop to the bottom of the channel — the blue zone — before moving upward.
This would still remain within the overall market structure and would not invalidate the bullish scenario as long as the channel holds.
Based on this setup, the price is expected to move toward the highlighted targets as long as it respects the channel and continues developing within this broader triangle pattern.
There is also a possibility that the price may drop to the bottom of the channel — the blue zone — before moving upward.
This would still remain within the overall market structure and would not invalidate the bullish scenario as long as the channel holds.
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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.
Related publications
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.
