This is a small timeframe trade. I think this move likely plays out over the next few days (if it's going to happen).
As you can see, we've broken out of a bull flag and have tested this upper resistance multiple times at $.1435. Since it hasn't broken this level yet, I think what's most likely from here is for price to reject back into the lower support levels - either $.1347 or .1307.
If those support levels hold, then it sets up a potential 40-50% move higher into the upper resistances.
I'd look for $.1970 to get hit before a trend reversal, but you could also take profits at the $.17 level too.
Let's see if it plays out.
As you can see, we've broken out of a bull flag and have tested this upper resistance multiple times at $.1435. Since it hasn't broken this level yet, I think what's most likely from here is for price to reject back into the lower support levels - either $.1347 or .1307.
If those support levels hold, then it sets up a potential 40-50% move higher into the upper resistances.
I'd look for $.1970 to get hit before a trend reversal, but you could also take profits at the $.17 level too.
Let's see if it plays out.
Trade closed manually:
Don't like the retrace.
Comment:
Still above previous support so will likely still play out.