Near look good to Long
Clear Uptrend: The chart shows a clear uptrend, indicating upward price movement.
Parallel Channel: Price action is within a parallel channel, suggesting a structured trend.
Phases Identified: We can observe phases of Accumulation, Manipulation, and Distribution.
Distribution Phase: Near is currently nearing the retest of the distribution phase.
Entry Opportunity: Consider entering long positions around $5.8 during this phase.
Targets: Potential targets for this trade are $7.6, $12.49, and $21.750.
Invalidation: If the price breaks below the channel downside and closes a daily candle below it, the setup is invalidated.
FOMC Meeting: Keep an eye on today's FOMC meeting as it could influence market direction.
Parallel Channel: Price action is within a parallel channel, suggesting a structured trend.
Phases Identified: We can observe phases of Accumulation, Manipulation, and Distribution.
Distribution Phase: Near is currently nearing the retest of the distribution phase.
Entry Opportunity: Consider entering long positions around $5.8 during this phase.
Targets: Potential targets for this trade are $7.6, $12.49, and $21.750.
Invalidation: If the price breaks below the channel downside and closes a daily candle below it, the setup is invalidated.
FOMC Meeting: Keep an eye on today's FOMC meeting as it could influence market direction.
Trade active:
congratulations who take entery, it's 30% up now, it's seam making inverse head and shoulders pattern. and also in disribution phas