There is a cluster of patters and signals here. I've turned off all my regular indicators as they are just noise given the amount of other signals we have.
The first thing happening here is that there is an Elliot wave push happening. The wave three has occurred and that is generally the longest push of the wave so I think our price target will be a congestion zone at 1630. Second we have a high and tight flag. The point at which we buy in based on that is the peak of the flag, as indicated by the green dotted line. However we have also an earlier buy signal indicted by a combination of a triangle and three rising peaks. We can set a buy price at the purple dotted line and use the bottom of the flag at 1450 as our stop, making us far more profitable than just trading off the high and tight flag. The red trend line I've put in at the tip of the triangle can act as a trend line stop also in case the price begins to simply congest along this point.
There is also another buy point indicated by the red arrow that everyone should have paid attention to by now. :)
The first thing happening here is that there is an Elliot wave push happening. The wave three has occurred and that is generally the longest push of the wave so I think our price target will be a congestion zone at 1630. Second we have a high and tight flag. The point at which we buy in based on that is the peak of the flag, as indicated by the green dotted line. However we have also an earlier buy signal indicted by a combination of a triangle and three rising peaks. We can set a buy price at the purple dotted line and use the bottom of the flag at 1450 as our stop, making us far more profitable than just trading off the high and tight flag. The red trend line I've put in at the tip of the triangle can act as a trend line stop also in case the price begins to simply congest along this point.
There is also another buy point indicated by the red arrow that everyone should have paid attention to by now. :)
Comment:
Well if that’s not a breakout then I don’t know what is