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The blue dotted line was constructed to trail the key fib resistance levels and with the parallel support line, we formed a pennant.
If we observe, we see how price face a resistance and support conformation multi of times on the dotted blue line...
Following this, we still have price trailing with the upward channel on multi TFs.
We are at the verge of printing a rising wedge following the confluence of the new resistance yellow line and the base of the upward channel.
I would want to see how price play within this wedge zone... But If I must, I think we are poised to having another leg up soon.
Keep an eye on this.
The blue dotted line was constructed to trail the key fib resistance levels and with the parallel support line, we formed a pennant.
If we observe, we see how price face a resistance and support conformation multi of times on the dotted blue line...
Following this, we still have price trailing with the upward channel on multi TFs.
We are at the verge of printing a rising wedge following the confluence of the new resistance yellow line and the base of the upward channel.
I would want to see how price play within this wedge zone... But If I must, I think we are poised to having another leg up soon.
Keep an eye on this.