Ascending triangle condensing the range, since the preceding price action is bullish a violent move towards the upside as it breaks short stops expected. It is likely that the gains will be retraced though in the 9500 - 9100 range.
Comment:
Well I obviously got the breakout imminence right, but the direction wrong :) I had a previous bias towards downward re-test as per
and that order triggered now, Let's look at the new state of the world:
8690 is likely given the momentum, there is some techincal damage done on the 4H/1D chart as well, but as long as 8400 - 8500 holds the recovery is still in sight a break below would 8300 would probably open the door to 7500. Im sidelined for now seeing how the consolidation works out on the current level.
Comment:
Note to self: regardless of ascending triangle if volume/momentum divergence is present, do not bet on the upside: