Prior to this continuation pattern we had Head and Shoulders pattern that reversed long uptrend. Currently, we had nice downturn, followed with this continuation pattern. Here, we have very good RRR 1:4. Thus, very plausable trade.
Hey, good guess prior but the range seems to be tightening above your old targets for a re-test of your previous thesis I believe off this current, higher area. Let me know what you think.
VukmanManic
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The trade seting shows things changed :) And this is the part of the business. On the other hand, it was good RR ratio. The structure is broken, and actually now I cannot tell much (based on price action) but I would say we enterred in price considelation. Probably price moving up for next couple of weeks.
Possible up target 87
Please, be advise about desclimer
This is not a signal, just my opinion ;)
InvisibleOne
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Yeah, I agree with you. I believe consolidation is broken to the upside as of yesterday and a potential fail is incoming before moving to $87.00. A clean move is, however, desirable...but as you mentioned structure is broken, so perhaps it will stall and accumulate before moving forward as to change general outlook on the security.