Hello everyone. I've published an idea titled 'Chewy bounced back from range bottom!' in early Oct. I mentioned some buyers jumped in around the weekly range bottom, yet the downtrend has not been terminated.
The pivot low got violated in the following days, however, price formed bullish engulfing + inside bar pattern shortly after the violation. The reversal turned to be likely in that situation.
It went as expected. Patience finally pay offs. It's clearly on the chart that candle formed typical uptrend pattern(higher high and higher low).
The short-term target is around $75, confluence with flip and 61.8% fib. Potential pullback entry level is around $65 if market gives us the opportunity.
What do you think? Give me a like if you're with me.
The pivot low got violated in the following days, however, price formed bullish engulfing + inside bar pattern shortly after the violation. The reversal turned to be likely in that situation.
It went as expected. Patience finally pay offs. It's clearly on the chart that candle formed typical uptrend pattern(higher high and higher low).
The short-term target is around $75, confluence with flip and 61.8% fib. Potential pullback entry level is around $65 if market gives us the opportunity.
What do you think? Give me a like if you're with me.
Comment:
A very nice 6% rise today...
plan your trade and trade your plan
