So many indicators showing signs of reversal here:
Linear Channel Regression Breakout (dotted yellow lines)
Cross up and over the 100 Day MA (lime green solid line)
Cross up and over the 1D Ichimoku Cloud (not pictured in my chart)
Most notably, the inverse head & shoulders pattern has been confirmed. Might retest neckline, but based on the angle of this formation it is unlikely.
Based off the height of the head: Take profit $220
Based off the bottom of the right shoulder: Stop loss $100
Linear Channel Regression Breakout (dotted yellow lines)
Cross up and over the 100 Day MA (lime green solid line)
Cross up and over the 1D Ichimoku Cloud (not pictured in my chart)
Most notably, the inverse head & shoulders pattern has been confirmed. Might retest neckline, but based on the angle of this formation it is unlikely.
Based off the height of the head: Take profit $220
Based off the bottom of the right shoulder: Stop loss $100
Trade stängt: målet nått:
Adjusting take profit to coincide with other mid-term fib analysis which says to take profit right at $200.