$V continuation pattern breakout
higher time is in strong uptrend and showing strength
intermediate time frame also in uptrend and rising moving averages with the shorter time moving average slightly flattening showing consolidation with price trading around it
price is seen here forming a resistance at the 96.16-96.17 area with the three price rejection candles
forming a ascending triangle possibly looking for more retests of the resistance and higher lows to show buyers conviction
this is mostly a monitoring situation not a play yet
on the lower time frame- it is showing a bullish rectangle pattern- longer it stays in the range more energy will be built for the possible breakout move
just have to watch what price does in the upcoming couple days
measured move is a .33 move if broken out of resistance which will bring price to 96.50 area and extension level .618 at the 97.1x area
intermediate time frame also in uptrend and rising moving averages with the shorter time moving average slightly flattening showing consolidation with price trading around it
price is seen here forming a resistance at the 96.16-96.17 area with the three price rejection candles
forming a ascending triangle possibly looking for more retests of the resistance and higher lows to show buyers conviction
this is mostly a monitoring situation not a play yet
on the lower time frame- it is showing a bullish rectangle pattern- longer it stays in the range more energy will be built for the possible breakout move
just have to watch what price does in the upcoming couple days
measured move is a .33 move if broken out of resistance which will bring price to 96.50 area and extension level .618 at the 97.1x area
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