Waiting for long entry level can help folks avoid possible resistance and also avoid a losing trade. I admit I do not Always do that but I do try. I was in this one before I saw the cup forming..so oh well (o:
The HL or Mid cup can provide support
In a bullish market, a security can reach 100% and above using fib levels.
100% is 44.22..
Cup depth is 15.17
Now rising wedges noted.
One way to calculate targets is by using cup depth and fibonacci levels added to the long entry level. Many place long entry level a smidgeon over the cup high to avoid the resistance that may lurk there
Not a recommendation/just an observation
Good idea to do your own research..The market will give you enough rope to hang yourself if you let it (o:
NV and OBV are high/no rising wedges in yearly chart
The HL or Mid cup can provide support
In a bullish market, a security can reach 100% and above using fib levels.
100% is 44.22..
Cup depth is 15.17
Now rising wedges noted.
One way to calculate targets is by using cup depth and fibonacci levels added to the long entry level. Many place long entry level a smidgeon over the cup high to avoid the resistance that may lurk there
Not a recommendation/just an observation
Good idea to do your own research..The market will give you enough rope to hang yourself if you let it (o:
NV and OBV are high/no rising wedges in yearly chart