In our previous analysis, we identified a parabolic move that we were watching for a breakout and a retest before moving up. Price retested our structure level and moved up 60%!
Again, we are looking for a correction to get another entry.
We have our structure level in place 1.85 where price has reacted to previously. We also have an ascending trendline which price seems to be respecting. The best place to look for entry would be the point where the structure and trendline converge - as marked out in the chart.
Please note that price doesn't have to touch where both trendline and structure converge. It could just move down aggressively and touch the structure only before moving up.
Targets: All time highs.
Again, we are looking for a correction to get another entry.
We have our structure level in place 1.85 where price has reacted to previously. We also have an ascending trendline which price seems to be respecting. The best place to look for entry would be the point where the structure and trendline converge - as marked out in the chart.
Please note that price doesn't have to touch where both trendline and structure converge. It could just move down aggressively and touch the structure only before moving up.
Targets: All time highs.
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