With the prevailing longing movement there is potential signal which is gonna prove buying trend - flag formation.
It's good to notice that there is a good probability of false signal formation - breakout of bottom flag's line.
In our opinion it shouldn't confuse traders. Enter the position only after top flag's line breakout.
Also we see that recent correction with diminishing volumes (e.g. divergence) and that 60.00 price was broken with high volumes, e.g. volume of trades confirms our vision.
The vision and recommendation is to buy.
Entry point 65.00 ( top flag's line breakout)
Stop-loss 62.25 (flag's low price)
First Target 75.00 (according to Elliot's wave and sizing methods)
Risk/return ratio 1:3.64
It's good to notice that there is a good probability of false signal formation - breakout of bottom flag's line.
In our opinion it shouldn't confuse traders. Enter the position only after top flag's line breakout.
Also we see that recent correction with diminishing volumes (e.g. divergence) and that 60.00 price was broken with high volumes, e.g. volume of trades confirms our vision.
The vision and recommendation is to buy.
Entry point 65.00 ( top flag's line breakout)
Stop-loss 62.25 (flag's low price)
First Target 75.00 (according to Elliot's wave and sizing methods)
Risk/return ratio 1:3.64
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