Price broke the may-long B wave of the consolidation and has been on another consolidation just below the lower line of the channel since then. for this week, there are two possibilities
1) Price breaks down the purple line, and make a correction below it ( if this happens, look for a sell setup and sell TP above 139.329). this first option is mor likely to occur
2) price turns back sharply above the purble line and make a flag ( if this happens, you could either wait, or choose to buy all the way to 149.100) this second option is highly unlikely. even if it occurs, price could come down sharply after that
A good and safer sell setup is to wait for price to break the low at 143.162 and make a consolidatory retest to this level before you sell.
Have a great week ahead!
1) Price breaks down the purple line, and make a correction below it ( if this happens, look for a sell setup and sell TP above 139.329). this first option is mor likely to occur
2) price turns back sharply above the purble line and make a flag ( if this happens, you could either wait, or choose to buy all the way to 149.100) this second option is highly unlikely. even if it occurs, price could come down sharply after that
A good and safer sell setup is to wait for price to break the low at 143.162 and make a consolidatory retest to this level before you sell.
Have a great week ahead!
Trade closed: target reached