Symmetrical Triangle Pattern: Indicates a potential continuation of the previous trend, suggesting a bullish breakout.
Long-Range Accumulation: Prolonged accumulation often precedes a strong upward move, reflecting increasing investor interest and potential buying pressure.
Higher Highs-Higher Lows Formation (HH-HL): Reflects an overall uptrend, reinforcing the bullish sentiment in the market.
Huge Volume Buildup Near Breakout Zone: Significant volume surge near the breakout level implies increased market participation, supporting the likelihood of a sustained upward move.
Considering these factors, a long position seems favorable and target should be 3200 area which is almost 20% from here , but it's crucial to monitor the breakout confirmation and implement proper risk management strategies.
Long-Range Accumulation: Prolonged accumulation often precedes a strong upward move, reflecting increasing investor interest and potential buying pressure.
Higher Highs-Higher Lows Formation (HH-HL): Reflects an overall uptrend, reinforcing the bullish sentiment in the market.
Huge Volume Buildup Near Breakout Zone: Significant volume surge near the breakout level implies increased market participation, supporting the likelihood of a sustained upward move.
Considering these factors, a long position seems favorable and target should be 3200 area which is almost 20% from here , but it's crucial to monitor the breakout confirmation and implement proper risk management strategies.
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A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
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A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.