Which Path?
Preface: Come out of a small bull flag to rise up close to channel maybe wick 46K. Drop to test bottom of channel before choose path.
Path 1 (Blue): Bounces from bottom of channel to hit top before retesting 46K as new support. Finally, break out above .236 retesting and finding support at Sept 15-19th congestion around 47-49k.
Path 2 (Orange): Drop out of channel to retest .382 for support. Spring out to blow past .236 top completing Rev. H&S seen in previous chart
Path 3: Drops out of channel, Re-tests .382 and breaks below to retest all support down to .5 to create double bottom. Less likely IMO.
Of course, there are infinite possibilities but here's my general analysis.
Path 1 (Blue): Bounces from bottom of channel to hit top before retesting 46K as new support. Finally, break out above .236 retesting and finding support at Sept 15-19th congestion around 47-49k.
Path 2 (Orange): Drop out of channel to retest .382 for support. Spring out to blow past .236 top completing Rev. H&S seen in previous chart
Path 3: Drops out of channel, Re-tests .382 and breaks below to retest all support down to .5 to create double bottom. Less likely IMO.
Of course, there are infinite possibilities but here's my general analysis.
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