🔸In the Weekly chart (published), we see that the price has been in an important range for almost 5 years. There were some interesting and clear swings inside it, but none were strong enough to break it.
Now, after three years, we see the price in the upper zone of the range again. Here we must ask ourselves, will it break the range, or will we see a new rebound? We must raise both scenarios until we see a clear behavior of the price, and therefore, consider the possible targets if either of the two happens.
In the event of a breakout, we consider it appropriate to wait for a retest of the zone and then a rejection to confirm the potential move. The long-term target would be the , where the last impulse began.
And, in the event of a downward bounce, we may see the price at the base of the range a few years from now.
This is the long-term vision.
🔸Let's analyze the medium-term targets in the .
In this chart, we can draw a , and we see that the upper coincides with the where the price bounced. Also, there is a more vertical that has been broken to the downside.
At this time, we consider that the price is potentially downward, and a breakout to the upside of the corrective structure would only invalidate our view.
-All the setups we are taking
-The analysis we are making
-Learning all our methods and strategies
-24/7 support on any trading issue