Explanation on chart.
32400.20 is my manual level which coincides with FIB PROJECTION with a difference less than 10 points, which is negligible.
Expecting correction to be in intraday level at least before it breaks ATH.
Follow the Purple and Orange lines for intraday for 3rd week of JAN 2021 unless broken.
The day after GAP 1 is Day 1.
Day 5 should have gapped Up but did not GAP UP due to the penetration of Day 3 into Day 2 level. This occurrence lead to delay in pattern follow up.
Worked out to be a great trade.
IT HAS BEEN RECOVERING REALLY GOOD AND OVERALL UP TREND
AT DECISION POINT FOR SHORT TERM (1 WEEK)
MAY HAVE A DIP BEFORE REACHING 100% FIB LEVEL
WILL TAKE SUPPORT ON FIB LEVELS AND CHANNEL
ALL THE BEST...!
LOOKS LIKE A BULLISH REVERSAL PHASE BUT FOR CONFIRMATION IT HAS TO CROSS HIGH HIGH 275 BUT THAT IS LONG WAY UP THE LADDER
HAS TIME AND AGAIN TAKEN GOOD SUPPORT AT MAJOR DEMAND ZONE
STOCK HAS BEEN IN DOWN TREND DUE TO CORONA ISSUES AND HEAVILY AFFECTED INCOME SOURCE
IF IT CANNOT SUSTAIN WITH THIS PARALLEL CHANNEL AND BREAK HH THEN WE CAN EXPECT...