So, we have a Bullish Shark, we have had consolidation and a divergence at the recent low. We have the overall weekly & monthly at our backs as well as some patterns thrown in for good measure.
Chart 1. Monthly
Support at Channel, Shark Tbar, previous range
As can be seen below (hopefully) the local trend line and VP POC support provided a buying opportunity which aligned with the Daily.
Ok, so we have the pattern, HSI confirmation whilst testing the HOP, within the bar count boundaries. As mentioned above a clear consolidation period meant the R/R was good for position entry. I did in fact scale in here as i was thinking there may be a retest of the extreme of that HSI. There was not. Hey ho. I am lloking for a continuation of what appears to be a constructive move that is unfolding. I will need this Tbar level to hold so do expect a retest.
I am targeting 17.52 which is a 30% upside from here and plus 40% from the entry price. Will manage accordingly.