PTBA is forming symmetrical triangle after breaking the diagonal bearish trendline. PTBA already move above the dynamic support EMA 21&34, indicating that PTBA has chance to reach the target area 2400 after breaking the symmetrical triangle pattern. Roadmap will be invalid if the price movement is moving below the support level 2170.
after rally from ICE NewCastle Coal Prices, PTBA break the trendline and retest the line. reversal just like before?
This Swing Trading analysis is for +-3 month ahead!!! Enjoy it and Trade At Your Own Risk
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(Long) Swing Trading / Investing PTBA still Sideways in Blue Symmetrical Triangle Pattern Breakout or Breakdown? Entry at Yellow Area / Lower Blue Line / Break Out Symmetrical Triangle Pattern Entry 1 (2530 – 2580) Entry 2 (2110 – 2200) Taking Profit at Green Area TP 1 (2800 – 2880) TP 2 (3150 – 3290) Other - For Short Trading, TP at Fibonacci Retracement...
Long on ascending triangle forming. Higher timeframe (weekly) shows strong resistance on Fibonacci levels.
Possible long on inverse head and shoulders breakout. Selling pressure coming in at TP.
Scenarios for PTBA 1. If preclosing break resistance 2620 with high volume, Buy on Breakout, nearest TP is 2800 2. If the price drops, bid below between 2500-2600 For short term, please watch the S/R on the chart. For long term, it's safe to take the current price.
Disclaimer: This information is for educational purposes and is not an investment recommendation nor to be representative of professional expertise. This analysis used herein is for illustration purposes only. This personal opinion should not be considered specific investment advice. I am not responsible for any trades, and individuals are solely responsible for...