TRIGGER is required for any arrows on the chart. Please read below:
Having broken up the downtrend channel and a nice pullback,
DOW
is now trading in an upward channel. However, $62 zone is counted as an important resistance on the road to higher targets. Looking close to the chart, we can see a great upward pin bar on the bottom of the upward channel, which shows that sellers did not have enough power to decrease the price more than this. For getting a trigger to buy, I personally look forward to seeing a break of $62, and a pullback to it (in H1 time frame). If the scenario happens, we can enter with the stop loss of $59 and the following targets:
$71 zone, till the mid of July, 2022
$82 zone, if the price reaches $71 zone, sooner than the mid of July, 2022.
Having broken up the downtrend channel and a nice pullback,
DOW
is now trading in an upward channel. However, $62 zone is counted as an important resistance on the road to higher targets. Looking close to the chart, we can see a great upward pin bar on the bottom of the upward channel, which shows that sellers did not have enough power to decrease the price more than this. For getting a trigger to buy, I personally look forward to seeing a break of $62, and a pullback to it (in H1 time frame). If the scenario happens, we can enter with the stop loss of $59 and the following targets: $71 zone, till the mid of July, 2022
$82 zone, if the price reaches $71 zone, sooner than the mid of July, 2022.
Trade closed: target reached:
The first target is reached. I personally wait for the next targets, since the momentum is valid.