One way of looking at it is a uptrend followed by a sideways consolidation.
This consolidation usually forms a continuation pattern by way of a cup and handle pattern, Inverted head and shoulder pattern and in this case as well, it has been forming a rising channel.
The volume also suggests that there was a decent accumulation on the way up followed by some profit booking. That level is a major supply zone and once that level is consumed, we could see a fresh demand in this script.
I suspect that another attempt to 480 will push itself into making a small contraction before it zooms towards the targets.
Trail the SL.
This consolidation usually forms a continuation pattern by way of a cup and handle pattern, Inverted head and shoulder pattern and in this case as well, it has been forming a rising channel.
The volume also suggests that there was a decent accumulation on the way up followed by some profit booking. That level is a major supply zone and once that level is consumed, we could see a fresh demand in this script.
I suspect that another attempt to 480 will push itself into making a small contraction before it zooms towards the targets.
Trail the SL.
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.