It was disappointing that the 21.90 lateral support didnt hold, but I held onto my positions as the significant weekly 20.80 support was still in tact. As long as we remain above 20.80 the set-up remains bullish and could potentially be building up to form an inverse head and shoulder which will be confirmed with a break above 23.50. I continue to hold
We have been keeping an eye on this potential continuation rectangle for a while. The break out of the downward channel is bullish and I will further add to my current holdings. There is resistance at 23.35, but above there we could see a significant break higher. But for now... taking it level by level
I was hoping VAPX would follow VGER and VHYL as they had similar patterns, but there has been a lack of follow through. I will continue to hold my positions whilst above 21.95 - but will look to exit below as a daily close below that red lateral support will trigger a double top.
I identified the similar bull flag pattern on VHYL and VGER and I started buying in around 22 (red zone) in anticipation that VAPX would follow suit. So far so good and we have got our confirmed break and re-test. I will use this confirmation to add to my position further - targeting 24.18