XPT Surges as EMAs Align with Bullish Chart Pattern
Updated
Hello!
XPT broke out from a falling wedge (See green trendlines!) formation with strong bull power, as the MACD shows. It wasn't against expectations since falling wedge chart patterns usually break upward. It's often a bullish formation. Thus, MACD and chart patterns align with a bullish outlook. Furthermore, the price is above EMAs (20/50/100/200). EMAs crossed upward on the 24th of September. Seemingly, nothing stands in the path of bulls until the green target circles. However, stay vigilant and don't go all in.
Regards,
Ely
XPT broke out from a falling wedge (See green trendlines!) formation with strong bull power, as the MACD shows. It wasn't against expectations since falling wedge chart patterns usually break upward. It's often a bullish formation. Thus, MACD and chart patterns align with a bullish outlook. Furthermore, the price is above EMAs (20/50/100/200). EMAs crossed upward on the 24th of September. Seemingly, nothing stands in the path of bulls until the green target circles. However, stay vigilant and don't go all in.
Regards,
Ely
Trade closed: target reached
🎯 Platinum hit the first target price of the analytics. You find the daily candle that leads to the nearest green circle on the chart.
While I'm reporting success with happiness, don't forget that it's not an indication that the price will hit the second target, too. Make sure to have stop loss and trail profit, and carefully review your position sizes and hedge positions.
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