Ascending Triangle - Bullish to double top @ $13,000~
Bullish fractal is forming. Ascending triangle. Bullish crossover of Fisher Transform. Expected to play out as per pink arrow.
Comment:
Long now from 11050-11200. We should have one more touch of the ascending triangle support on the smaller time frames before we start our move up.
Trade active
Comment:
Expecting leg up to the top resistance of the triangle very shortly.
Comment:
Gearing up for a breakout of this small ascending triangle within the larger bullish fractal that will be the catalyst for the move up.
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Circles highlight parabolic SAR flip on 15 minute chart, as well as fischer transform bullish crossover.
Comment:
Break out of small ascending triangle. Stop moved to in profit. We will find brief resistance at the light orange line above; before breaking out to the upside with a great big green candle. This will take us up to 11,600-11,700 where we will again find brief resistance before an even bigger break out.
Comment:
Ranging next 24-36 hours between 11,500 and 12,100. Heaps of opportunities for scalpers between these levels. After we finish ranging we move up again to approximately 12,200-12,300 for a short period of ranging before the next larger move up to high 12's.
Comment:
One last leg up to come soon to form the double top.
Comment:
About to see next leg up
Trade closed: stop reached:
Stopped out in profit (11,077 to 12,719 = min 14.82% profit on zero margin). Double top reached (albeit not quite as high as hoped). New idea coming shortly.
