On the chart I have circled the 3 points that make up the potential . While the head is not that far below the left shoulder, it's enough for me! Especially if the current right should continues upwards. It is also creating a very large double 'W' pattern.
The is also confirming a move higher. The first thing to look for is that the cycle is at the bottom. The second is if the green line has crossed above the magenta line. Both are true here.
If price does pull back, I will add to my long.
As always, please I look forward to your questions and comments.
If the Fed does not raise interest rates today at the FOMC, I'm expecting an extremely big move to the upside. Here are my profit targets:
PT1 - 1357 - upper BB
PT2 - 1390 - upper BB on the weekly chart
PT3 - this will be my runner