- We are looking at a potential reversal formation in the form of a double bottom. - The break of the neckline activates the price target of the formation at $ 1825 - The golden pocket of the last downward movement stands as strong resistance at around $ 1765 in the chart
The plan
- I would like to wait for a clear breakout - I want to use a possible retest of the breakout zone around $ 1750 for a long entry. - The price target of this movement is between $ 1813 - $ 1825. - As we are still in an overriding correction, I want to quickly tighten the SL.