KSM: This Birdie Is Ready To Fly (E X P E C T C H A O S)
The Bears reached the exhaustion point on the 25th of April, as indicated by the reversal on the MACD and the RSI moving out of the Oversold region.
Currently, on the daily chart, we can clearly make out a Symmetrical Triangle.
Trading on this formation is done by measuring the distance between the high and low, and placing it on the breakout/breakdown of the formation.
So, by finding the resistances and a Fib on the Triangle's H&L and another on the local trend, we can find some "realistic" price targets.
ENTRY: 434.93$ - 445.34$
TP1: 480.94$
TP2: 564.10$
TP3: 658.50$
TP4: 743.10$
SL: 388.40$
PLEASE NOTE: Wait for a daily close above the formation before entering.
Currently, on the daily chart, we can clearly make out a Symmetrical Triangle.
Trading on this formation is done by measuring the distance between the high and low, and placing it on the breakout/breakdown of the formation.
So, by finding the resistances and a Fib on the Triangle's H&L and another on the local trend, we can find some "realistic" price targets.
ENTRY: 434.93$ - 445.34$
TP1: 480.94$
TP2: 564.10$
TP3: 658.50$
TP4: 743.10$
SL: 388.40$
PLEASE NOTE: Wait for a daily close above the formation before entering.