After breaking out of the triangle TKO pushed up to 3.58 and pulled back.
It just bounced off this very recent support level at 3.2 established on the lower time frame and is heading back up.
For now, I am looking for a close above 3.65 on the 4H chart.
Looking at the fib retracement, my targets are 5, 6.2, 8 and finally the ATH at 10.
However, if we break below 3.2 and close below 3, I would turn bearish on TKO.
Also, I still haven't seen a significant increase in volume so I would be more conservative on this one.
Any questions?
Good luck traders
Remember to protect what you have and not break your rules
Habib
It just bounced off this very recent support level at 3.2 established on the lower time frame and is heading back up.
For now, I am looking for a close above 3.65 on the 4H chart.
Looking at the fib retracement, my targets are 5, 6.2, 8 and finally the ATH at 10.
However, if we break below 3.2 and close below 3, I would turn bearish on TKO.
Also, I still haven't seen a significant increase in volume so I would be more conservative on this one.
Any questions?
Good luck traders
Remember to protect what you have and not break your rules
Habib
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