I posted my previous Propy chart on here before realizing I had the chart mode set to logarithmic. Log charts also do usually reach their targets as well but sometimes it can take multiple bull runs to hit the really high targets on a logarithmic chart. So I thought it would be wise to switch the chart to linear and show what the linear breakout target would be for the inverse head and shoulders target as it has a much higher probability of reaching this target within a month or few of it validating the inv h&s breakout. We can see the target for the pattern on the linear chart is considerably lower and only at $5.60 instead of the $42 price the log chart has the measured move target at. I can believe that propy could eventually hit $42 but theres no guarantee that happens this bull run, sometimes log chart targets take multiple bull runs to get reached. That being said, it is still very possible propy could reach such a price this bull run, so its wise to include that price target as a real possibility, but also even wiser to not consider it a certainty by any means(at least not for the current bullrun). For now I’m setting my pragmatic sights for the invh&s breakout target at around $5.60(depending on whenever the breakout is actually validated which could take many more dips back below the neckline first) *not financial advice*
Comment:
Propy retesting the green neckline and it is currently holding support. If we continue to see the Israel iran tensions escalate tere’s a chance it could definitely dip back below that green neckline but for now it is still holding support.
Comment:
Propy now with 2 dips back below its rimline since the initial break above it. I just posted a silver chart that hit its full target and that didnt validate the breakout until after the 6th time it dipped back below the neckline so 2 dips back below this far on propy is no cause for concern.
