We have a beautiful ascending triangle formation taking shape here on the daily. Price is currently above daily Kijun and the lagging is free to move.The 1st target would obviously be the upper edge of the triangle and we should get a pullback from there then acceleration to break out of the formation. The next target being this year's high achieved in February,we should get some good resistance there so we take some off and last target being the monthly kijun level (Provided that kijun does not move down during all this,if it does we will have to adjust). Notice the premise of the analysis is based on the ascending triangle but the confluence factor is the flat kijun on the monthly. To achieve equilibrium price either has to move towards or it moves down to price,for now the latter is true.
Entry: 3 positions @ 338.2
SL: 367.7
TP1: 410
TP2: 438
TP3: 467
Entry: 3 positions @ 338.2
SL: 367.7
TP1: 410
TP2: 438
TP3: 467
Trade closed: target reached:
1st TP reached. . . .
