As you can see on chart below we have a multitude of things to talk about! Lets talk about what we have currently and what we need for this to be a trade worth entering.
-Beginning of this year we had a multi-year cup&handle breakout that never got to it's realized measured move of $1,124 before we had a pullback the measured time for this breakout is Jan2026 so basically 2025 we should realize that measured move. With the pullback we had we over compensated and broke through the support turning it back to resistance in which we now need to breakout over again and flip it back into support before heading higher.
-We have now created a new charting pattern, a falling wedge pattern in which we have just broken out of this week if we hold into EOW. This has a measured move up to $1,182 with a mid-year timeframe of Aug2025.
-We have a massive AVP Volume Shelf with a subsequent GAP to fill up to $883. Price held at this massive shelf and it should be used as a launch mechanism to send us back to ATHs.
-We held right at the Anchored VWAP Lower band as well from our bottom in 2022.
Now that we know what we have out of the H5 setup let's talk about what we need in order to enter this trade and make some gains!
-We need the H5 indicator to flip GREEN (Which it is very close to doing and could by EOW! Also, we want the H5 to cross through the yellow smoothing line as well.
-We need our Wr% to break up above at least -40, preferably -20.
-Finally, we want to see a break above $747
This is a long write up but I wanted to be thorough and fully explain the gameplan friends. This is still not a trade yet but it is a H5 setup that is getting close to a GREEN LIGHT!
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