Price kept coming down inside this down trending channel for the last two years.
1,618 area gave two long entries, first being the most successful so far and second being the most safe and low risk due to double bottom and bullish divergence at the end of March.
Major obstacle now, after broke the upper channel line, is the last known overhead supply, that is stopping price the last three months.
If it's an original break out, or a false one - like it did couple of times with the dashed wedge line in the daily tf - remains to be seen.
MA65 works very well in the daily chart.
Cheers,
P
1,618 area gave two long entries, first being the most successful so far and second being the most safe and low risk due to double bottom and bullish divergence at the end of March.
Major obstacle now, after broke the upper channel line, is the last known overhead supply, that is stopping price the last three months.
If it's an original break out, or a false one - like it did couple of times with the dashed wedge line in the daily tf - remains to be seen.
MA65 works very well in the daily chart.
Cheers,
P
