Cheers Slick, I appreciate that, but I believe I've got a lot to learn before I can be calling any shots. I'm still fresh on the scene.
But yes, the lines I drew are purely based off wicks - as long as they're tagging the line and not riddled with penetrations.
I always look for 3 peaks and 3 troughs to be tagged and then I'd wait for two closing sessions above the line, to confirm the move.
Generally speaking though, I apply this approach to my weekly charts.
I've adapted it to a daily chart and was curious if anyone else agrees or disagrees. If maybe a daily showed an earlier trigger? Or am I being too eager?
I've attached the weekly here, and as you can see it's a bit less convincing with a lot of resistance to get through that cloud.
But if a break out "was" to happen, I'd
imagine 2 weekly candles could handle that cloud while also bumping their head on the 200 at 14.6c.
Only me speculating. Would love all your thoughts.
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