M15 : Currently in an ongoing rising wedge formation in
progress coupled with a potential double top in progress too.
Further upside can not be ruled out as we are still under the influence
of a double bottom formation which has been validated by the breakout
of the trigger level @ 55534 and which give a target of 57668 !
A downside breakout of this rising wedge would open
the door for a target of 55'500 which is also currently
the level of the ongoing support trend line (in green)
Such kind of move would also confirm a move below
Tenkan-Sen, Mid Bollinger Band and Kijun-Sen (Base line).
Last but not least the target area, is also the clouds support
zone.
CONCLUSION :
Watch carefully price action over the coming H15 period (s)
which would validate or invalidate the scenario above mentioned.
Should we see further upside towards the former high @ 57633 ahead
of the double bottom target @ 57668 I would suggest to take profit on long exposure
and go short again.
progress coupled with a potential double top in progress too.
Further upside can not be ruled out as we are still under the influence
of a double bottom formation which has been validated by the breakout
of the trigger level @ 55534 and which give a target of 57668 !
A downside breakout of this rising wedge would open
the door for a target of 55'500 which is also currently
the level of the ongoing support trend line (in green)
Such kind of move would also confirm a move below
Tenkan-Sen, Mid Bollinger Band and Kijun-Sen (Base line).
Last but not least the target area, is also the clouds support
zone.
CONCLUSION :
Watch carefully price action over the coming H15 period (s)
which would validate or invalidate the scenario above mentioned.
Should we see further upside towards the former high @ 57633 ahead
of the double bottom target @ 57668 I would suggest to take profit on long exposure
and go short again.
