THE VIEW IS RETAINED FOR A 4 345/4 520 TRIANGLE PRICE ACTION OF THE LARGER BULL TREND.
The overall view of a bull trend to TA1 remains valid.
The P*/Z triangle pattern seems to be materialising and is the preferred interim view.
The current downside to Z would be phase c of the formation which should be followed by further converging price action (d and e).
The P*/Q* flag pattern is a feasible alternative.
The current phase remains part of the larger 1, 2, 3, 4, 5 bull trend to the highlighted TA1 target area.
Q* is pivotal for the larger bullish outcome. A break below this level will neutralise the longer-term upside potential. Breaking above P* will activate the illustrated gains.
Conviction: Medium to high
Note: The exact Z level has not yet been confirmed by price action and is currently an approximation
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