Hello everyone, so we broke our downtrend channel that had contained price for the past 2 months. Now price seems to be contained in the new ascending channel that we have been watching. Depending on whether this is a correction or an impulse, the target for a correction would be 7k and for the impulse it would be roughly 7400. Both targets are mapped out on the chart along with optimal entries and stops with an average RR of about 4:1
-Gemini
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Things are going very well for the trade so far, here is a quick short term update with a target for anyone looking to reduce a little earlier
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adjusted the region for stops to stay below our down trend channel and added a second region for even lower entries
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here is a look at what has been going on in the 30 min chart, looks like we are close to making moves as one of the trends will break soon