This is one of the examples that I like most due to the whipsaw that took the price after breaking the support line at 11.00 and its strong comeback above the past support this was a nasty short squeeze and even the price now is breaking the bearish trend line and now is making a soft pullback because now the market is controlled for the bulls The chart speaks for itself.
I always use something called multiple time frame analysis obviously starting from the weekly chart and then I go to daily chart for the details but when it comes to confirming the breakout of the line I need a big weekly candlestick crossing the line with authority and imposing above the line more some weeks for the pullback or some kind of price consolidation defending the land won, so as not to be punished or whipsawed for the price I was always based on the weekly chart that's why you have to learn to wait and have patience, make an end of day analysis not to do it in heat of the working day and confirmation always from the weekly chart
Now some technical aspects: The past volume has its relevance here because it was he who helped raise the price after he had fallen months ago I do not give price targets
because that varies between individuals and their intentions plus the time they are willing to maintain the position.
I not a trader I am only a Analyst who collaborates putting ideas on the desktop of the traders
Patience, humility and weekly charts :(
I always use something called multiple time frame analysis obviously starting from the weekly chart and then I go to daily chart for the details but when it comes to confirming the breakout of the line I need a big weekly candlestick crossing the line with authority and imposing above the line more some weeks for the pullback or some kind of price consolidation defending the land won, so as not to be punished or whipsawed for the price I was always based on the weekly chart that's why you have to learn to wait and have patience, make an end of day analysis not to do it in heat of the working day and confirmation always from the weekly chart
Now some technical aspects: The past volume has its relevance here because it was he who helped raise the price after he had fallen months ago I do not give price targets
because that varies between individuals and their intentions plus the time they are willing to maintain the position.
I not a trader I am only a Analyst who collaborates putting ideas on the desktop of the traders
Patience, humility and weekly charts :(