Long
XZC longer term view
XZC recently broke out if a descending triangle to the upside.
This looks to me as a logical continuation of a 5 legs cycle (labelled as ABC on left chart).
Shorter term: found a bottom, made a 5 legs up, retraced in an ABC move and seems to have started next cycle up.
Broke out and currently pulling back/consolidating before possibly a 3rd leg up starts.
Trading advice: let it correct, wait for a bullish Trend Continuation Pattern and buy that break out.
I will try to update when I see a good entrypoint
This looks to me as a logical continuation of a 5 legs cycle (labelled as ABC on left chart).
Shorter term: found a bottom, made a 5 legs up, retraced in an ABC move and seems to have started next cycle up.
Broke out and currently pulling back/consolidating before possibly a 3rd leg up starts.
Trading advice: let it correct, wait for a bullish Trend Continuation Pattern and buy that break out.
I will try to update when I see a good entrypoint
Note
This surprised me: (4) was placed on that position a week ago!Looks ready for next leg up.
Note
Target reached , let it roll from here. More to come imho
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Related publications
Disclaimer
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.