Coles is setting up for a sustained move higher. The structure is clean, and two key scenarios are worth tracking:
Scenario 1:
Shallow Pullback to ~$20
LVN Zone: Low Volume Node suggests weak price acceptance — price may dip but not stay.
Fib Confluence:
50% retracement from the recent 1-month 2-bar swing low aligns with this zone.
Yearly R1 Pivot:
Adds structural weight to the $20 area.
Expectation: Quick dip, then bounce — ideal for aggressive entries with tight invalidation.
Scenario 2:
Deeper Pullback to ~$18.93 (Preferred)
Major Support Cluster: Previous swing tops now act as support.
Macro Fib Level: 50% retracement from ATH to the March 14.81 low lands here.
Wick Memory: March’s long wick suggests liquidity and buyer defense — midpoint could act as a springboard.
Expectation: Stronger base, better risk-reward, and potential for a more explosive leg higher.
Invalidation: if we have a monthly close below $18.31 then the chances was this breakout was a false move.
please note, no time analysis done arrows show pathing
Scenario 1:
Shallow Pullback to ~$20
LVN Zone: Low Volume Node suggests weak price acceptance — price may dip but not stay.
Fib Confluence:
50% retracement from the recent 1-month 2-bar swing low aligns with this zone.
Yearly R1 Pivot:
Adds structural weight to the $20 area.
Expectation: Quick dip, then bounce — ideal for aggressive entries with tight invalidation.
Scenario 2:
Deeper Pullback to ~$18.93 (Preferred)
Major Support Cluster: Previous swing tops now act as support.
Macro Fib Level: 50% retracement from ATH to the March 14.81 low lands here.
Wick Memory: March’s long wick suggests liquidity and buyer defense — midpoint could act as a springboard.
Expectation: Stronger base, better risk-reward, and potential for a more explosive leg higher.
Invalidation: if we have a monthly close below $18.31 then the chances was this breakout was a false move.
please note, no time analysis done arrows show pathing
Trade active
Quite possible the pullback is done and price is ready to push. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.