In recent developments, the price has broken out from its daily trendline. A closer look at the 4-hour timeframe reveals an ongoing formation of a flag pattern, which has also experienced a recent breakout. Worth highlighting, all moving averages are pointing decisively upward. This robust trend direction substantially enhances the potential for a positive outcome in this trade.
Comment:
I should have placed the stop loss below the previous higher low at 1933. It's worth noting that upon closer inspection of the SmartMCD, it's evident that the bankers are starting to accumulate more positions, which increases the probability that this trade will work in our favor.