TGT 312, 338, 385
Even though channel breakout is about to happen, still longs can be initiated as closed above 61.8% retracement and small SL.
Disclaimer: I am a novice at charting and this chart is for educational purpose only. Views and opinions are welcome.
Definitely appears in retracement territory. There has been a prior retracement of 38% on a previous rally and here too, the 38% seems like the next logical target. Stop loss is a little to avoid getting whipsawed. Cautious traders can use tighter/trailing stops
An ascending triangle breakout is observed on daily charts. Longs can be initiated with Tgt 545, SL Close Below 503.
Disclaimer: I ama novice at charting and this chart is for educational purpose only. Views and opinions are welcome.