Reasons for bullish bias:
- Price forming a potential bull flag
- Entry is at breakout of pole for further confirmation
- HH breakout will also add confluence
- TP till projection
Entry Level (Buy Stop): 264.22
Stop Loss Level: 249.49
Take Profit Level 1: 278.95
Take Profit Level 2: 293.68
Take Profit Level 3: 300.56
ITW has just defined a HL and now going to start its movement up to a very strong resistance level of 266
Entry @ 255
SL @ 248
TP1 @ 263
TP2 (if it breaks above 266 level then just use 260 level as stop loss for the trade)
ITW is approaching our first resistance at 140.10 (horizontal swing high resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement) where a reversal could occur. Stochastic is approaching resistance as well where we might see a drop in price as it reacts off this level.
