We're seeing a very similar setup to what we were in 2019. That being a large broadening wedge form. One that has been broken and is now consolidating right above and testing as support at the moment. We seen an impulsive 11% move higher of the break in 2019/20, before the big sell-off:
Saw a similar 10% move on the break out move back in 2018:
10%-11% move now gives us a price target of $400-$405. Nothing rational about the move, but has any of this move been? Ignore the noise. Stop/loss being set on a break of the broadening wedge to the downside.
*NOT Trading Recommendations, always do your own analysis first**
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.