Correction and Before a Push

The US 100 shows an ascending triangle pattern that has not yet reached its projected high.

Context of the Ascending Triangle:
The price has formed an ascending triangle with an ascending support line (lower blue line) from point 1 to point 2.

Horizontal resistance is at 18,842.3 (point 3), and the price has not broken this level in a sustained manner or reached 18,979.0, as incorrectly indicated earlier.

Currently, the price is at 18,861.3, but for this scenario, we will assume it is retracing from a level close to resistance without having reached 18,979.0.

Correction to 18,670:
The price could retrace toward the key support at 18,671.7 (near point 2), which coincides with the triangle's ascending trend line.

This level has previously been solid support, making it a likely point for a rebound.

Rebound to 18,980:
From 18,670, the price could initiate an upward movement toward 18,980, a level projected as a target after breaking the triangle's resistance at 18,842.3.

This target is calculated by measuring the height of the triangle and projecting it from the breakout point.

Volume:
Volume shows a peak in previous upward movements, but has decreased in the current pullback, which is typical in a correction.

An increase in volume near 18,670 could confirm the entry of buyers for the rebound.

Trading Strategy:
Entry: Buy at 18,670 after confirming a rebound (e.g., a bullish candle with increasing volume).

Stop Loss: Place a stop loss below 18,600 to protect against a bearish breakout.

Take Profit: Target 18,980.

Risk: If the price falls below 18,600, the bullish scenario could be invalidated, targeting lower levels such as 18,500.

TradingView Idea:
US 100 (15M) - Correction to 18,670 before rising to 18,980.
Direction: Bullish after correction.

Entry: 18,670 (after confirming a rebound).

Stop Loss: 18,600.

Take Profit: 18,980.

Risk/Reward Ratio: Approximately 3:1.