Hello traders 🐺 .
1_pattern :
In the chart above we can see that VET is inside of the very big wedge pattern also you can call this as a bull flag because this pattern was formed after a bull run , the important fact about this pattern is that the this one formed in the higher time frame and as you might know the higher time frame you analysis the more your accurate become .
let's goes into the daily chart to look for the other patterns :
In the daily chart we can see that price tries to found a support from the weekly support and if price success to reverse from here , the next target is around the 0.618 which is alignment with the daily resistance structure ( blue box ) , but you can also take some profit above it around the 1.0 and after that at the top of the wedge .
2_EMA Ribbon :
after price break above the EMA Ribbon but after touching the daily resistance , price started to retracement and goes below the EMA Ribbon again but as you can see , EMA Ribbon is flipping bullish right now and in my opinion still there is good chance to goes above it again .
3_RSI & TSI :
TSI is still bullish and above the zero line and there is chance to find support from the zero line , but RIS is below the 50 however it's not bearish or bullish .
4_ price targets :
about the price targets I was talked about in the section 1 ( pattern ) .
This is not a Financial advice and always trade based on your trading strategy ; have nice day my dear friends .
1_pattern :
In the chart above we can see that VET is inside of the very big wedge pattern also you can call this as a bull flag because this pattern was formed after a bull run , the important fact about this pattern is that the this one formed in the higher time frame and as you might know the higher time frame you analysis the more your accurate become .
let's goes into the daily chart to look for the other patterns :
In the daily chart we can see that price tries to found a support from the weekly support and if price success to reverse from here , the next target is around the 0.618 which is alignment with the daily resistance structure ( blue box ) , but you can also take some profit above it around the 1.0 and after that at the top of the wedge .
2_EMA Ribbon :
after price break above the EMA Ribbon but after touching the daily resistance , price started to retracement and goes below the EMA Ribbon again but as you can see , EMA Ribbon is flipping bullish right now and in my opinion still there is good chance to goes above it again .
3_RSI & TSI :
TSI is still bullish and above the zero line and there is chance to find support from the zero line , but RIS is below the 50 however it's not bearish or bullish .
4_ price targets :
about the price targets I was talked about in the section 1 ( pattern ) .
This is not a Financial advice and always trade based on your trading strategy ; have nice day my dear friends .