EGLD break out from W pattern .

Hello traders 🐺 .

IF you remember my last idea about the EGLD , you know that in the last idea I was talked about the long term view of the EGLD and you can find it in the Related idea down below this idea , but in this idea I want to talk about the short term view of the EGLD :



In the chart above you can see that EGLD is breaking out from the minor W pattern inside the triangle pattern and now trying to retest the neck line as a new support , and as you can see in the chart I showed you the possible path for the EGLD price and after reaching the W pattern target , EGLD will faced to a daily resistance ( blue box) which is in alignment with the triangle upper trend line and also it's a W pattern price target .

But after testing the daily resistance , EGLD may goes down again and consolidation between the daily boxes , and after that decided to break from the triangle .

If you are currently in the long position , you can puts your take profit around the daily resistance box at 180$ , but still there is chance for goes further above , so trade based on your trading strategy .