* Please look at the related idea for the origins of this long opportunity. *
After a strong bullish wave, you can see that price is now currently in an ascending pennant/flag pattern. It is normal for price action to take a bit of a breather after a strong movement in either direction. During this time it may appear that neither buyers or sellers are in full control of the direction we will go next.
However, we can clearly see a 'flagpole' formed by the large expanded range bullish candle from which the upper trendline originates, and of course the boundary of the lower trendline has been well respected as well.
The red arrows indicate a rough path that I expect price to travel upon before reaching the target destination. The dips in price may be potential buying opportunities to leg-in to the original position.
After a strong bullish wave, you can see that price is now currently in an ascending pennant/flag pattern. It is normal for price action to take a bit of a breather after a strong movement in either direction. During this time it may appear that neither buyers or sellers are in full control of the direction we will go next.
However, we can clearly see a 'flagpole' formed by the large expanded range bullish candle from which the upper trendline originates, and of course the boundary of the lower trendline has been well respected as well.
The red arrows indicate a rough path that I expect price to travel upon before reaching the target destination. The dips in price may be potential buying opportunities to leg-in to the original position.
Transakcja zakończona: osiągnięto poziom stop:
Stop reached
