Good morning/evening traders,
In my last trading idea, "KNCUSD JUST BROKE OUT", I pointed out that the alignment of the upside breakout from a symmetrical triangle and the triple hidden bullish divergence should give this beast a new rally. Unfortunately, the profit was only 10% and the weakened momentum brought the price down to my stop loss target.
However, it seems that the last symmetrical triangle was transformed into an ascending triangle and a rare quadra hidden bullish divergence could form. If this plays out, the original set is still effective, and the 100% measured move targets the upper bound of the long-term rising channel.
Hope this helps. Please leave the comment, like the idea and follow me if you like my analysis.
HakoneDream
In my last trading idea, "KNCUSD JUST BROKE OUT", I pointed out that the alignment of the upside breakout from a symmetrical triangle and the triple hidden bullish divergence should give this beast a new rally. Unfortunately, the profit was only 10% and the weakened momentum brought the price down to my stop loss target.
However, it seems that the last symmetrical triangle was transformed into an ascending triangle and a rare quadra hidden bullish divergence could form. If this plays out, the original set is still effective, and the 100% measured move targets the upper bound of the long-term rising channel.
Hope this helps. Please leave the comment, like the idea and follow me if you like my analysis.
HakoneDream
Comment:
Break bearish in an ascending triangle. Maybe it' wiser to wait patiently for another opportunity.
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Comment:
I was tricked! It just went back to my initial target. Congratulations on those who caught up to this trade.
Let's see what the next move is.