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Using a Leone style setup for this trading chart. Thank You ! Price is wedged here just below the 20 EMA and the fifth rail. I have a first target of 20.50 and a second target near 22. Stop loss is set at 17.70.
This chart is no longer working for me. So, I did what any good chartist would do; I created a new one. I have to say the new chart appears more correct than original but having more data to work with is always helpful. This looks like a good entry point here as we approach the end of this bullish wedge.
2use littleriver
So if it is the end of the wedge, wheres the price target in your opinion? Still above 20?
Hi 2use.

Took me a bit to see the wedge I was seeing at that time. But now I see it. Realy need to go pro so I can save unlimited charts . Here is the wedge I was seeing at this time . What we really have here is a bull flag and I still see this above 20 .
2use littleriver
I see and have this in my saved chart (the one i got before it went for pay). With that i am kind of getting a contradiction with the chart you have with bubbles where it narrows down at the end. Unless it keeps to the support of the flag (within the idea of bubbles), it hopefully will go up indeed to 20. Only problem i see is that it did this for several times already, it becomes too obvious.
True it may indeed become obvious. But the good news is we did not make a lower low. The next rally may produce a higher high. If we look above on bubble chart there are lots of sell orders to work thru. One thing to watch is the volume on these rallies near 20. We want to see the volume decrease here as this would suggesting there are fewer sellers making it easier for bulls.
2use littleriver
Point taken, lets keen an eye out :) Thanx for the replies and opinions - and Happy 4th of july if youre in US ;)
Spot on. But it seems to be trading in the lower channel so far. You see 20.50 as a possible stop of the run? or is it too weak to get up there?
Hi 2use

Thanks , It does appear weak but I suspect it will be a long run. Not attracting much attention at this point. I see 20.50 as a potential layover, rather than a stop, in this long bullish trend. Here is a look at one of the charts I like to use for entries and exits. I have drawn a trend line in blue on the the RSI that I use for entry. Bullish crossings of this line represent potential entry points . I look for potential exits at bearish crossings of the yellow upper band line on RSI. Looking at the RSI first target appears reachable.

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