Today, we will share a bullish perspective we have on Black Rock
- The main structure we are observing is an ascending channel
- Inside the ascending channel, we can see a flag pattern above a support zone
- We saw a breakout of the Flag pattern and a secondary corrective structure above it
- Now, we are waiting for a breakout above the green line to confirm the expected movement
- If that happens, we will trade towards the higher trendline of the ascending channel
- Our Stop loss will be located below the support zone
- The resolution of this setup can last 30 to 45 days
- The risk we will take is 1% of our Capital
- The risk-reward ratio we are looking for is 1.5
Thanks for reading!
- The main structure we are observing is an ascending channel
- Inside the ascending channel, we can see a flag pattern above a support zone
- We saw a breakout of the Flag pattern and a secondary corrective structure above it
- Now, we are waiting for a breakout above the green line to confirm the expected movement
- If that happens, we will trade towards the higher trendline of the ascending channel
- Our Stop loss will be located below the support zone
- The resolution of this setup can last 30 to 45 days
- The risk we will take is 1% of our Capital
- The risk-reward ratio we are looking for is 1.5
Thanks for reading!