back with the up trend, I expect the price to go well beyond its previous high, serious monitoring of trends and volume are still required, Nothing is sure, especially with this crazy asset.
the break defined a steep trend. I'll monitor these trends to see if a reverse move happens. Considering the fact that this pattern required a fairly long period to be formed, plus the price has bounced over a very strong support and resistance range defining a new probable ascending trend.
symmetrical triangle over the weekly scale broken, a first take profit to Watch around 70-71, otherwise a 80 level might be feasible or even higher. Anyway around these levels a strict following of the chart should be done. stop loss 54
short position decided with the help of this patern, confirming the fact that the break of the bigger triangle isn't a fake move, ( stop loss 3884; take profit 3360)
,symmetrical triangle broken with decisive volume, sell order 73.5, stop loss 76, take profit: 62 , We can also notice a kind of break away gap which might suggest a strong change into technical position
Over a monthly scale we can clearly distinguish a head and shoulder pattern, and combined with the daily view I've noticed a diamond formation near the completion of the head and shoulder, I'm now waiting for a clear confirmation to take any action. So let's wait
A beautiful Island formation occured on pernod ricard, both gap occured around the 121 level, plus the formation also shows a head and shoulder decisively broken. Sell 120.1 Stop loss:121.3 Take profit: 111.65
