Anchored at A: 24 Jan, B: 10 Feb and C: 24 Feb's pivots.
After forming a double bottom at point C, 28 Feb's bullish engulfing closed above the median line, so I marked the 50% level between point B + C to mark the validity level of my trading idea.
I am anticipating a push into the 3.4k area mid march before seeing a minor retracement back down to around 3k where the 23.6% Fibonacci level is sitting.
A bullish daily close above 3k, and a break of the lower pitchfork's upper median line would initiate a bull run into the next strong resistance which I have identified at around 4k.
The fixed market profile tool shows me that there is a lot of volume at this area and the cross between the projected pitchfork's median line and this level creates an interesting zone of price which I predict to be reached any time from late March to early April.
I have attached a link to today's intraday chart with a 60 period SMMA where an ascending triangle is forming.
If this chart pattern is confirmed and we stay above this average, it will initiate my trading idea until we close/crash below the 50% Fibonacci level I have marked.
After forming a double bottom at point C, 28 Feb's bullish engulfing closed above the median line, so I marked the 50% level between point B + C to mark the validity level of my trading idea.
I am anticipating a push into the 3.4k area mid march before seeing a minor retracement back down to around 3k where the 23.6% Fibonacci level is sitting.
A bullish daily close above 3k, and a break of the lower pitchfork's upper median line would initiate a bull run into the next strong resistance which I have identified at around 4k.
The fixed market profile tool shows me that there is a lot of volume at this area and the cross between the projected pitchfork's median line and this level creates an interesting zone of price which I predict to be reached any time from late March to early April.
I have attached a link to today's intraday chart with a 60 period SMMA where an ascending triangle is forming.
If this chart pattern is confirmed and we stay above this average, it will initiate my trading idea until we close/crash below the 50% Fibonacci level I have marked.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.