Hi a1b1trader,
I see your chart and it shows that it has broken out of the trend, by cutting across the upper trend line. Also towards the end of the day, the price tried to go below the trend line, but got stopped at the trend line and formed a rejection candle.
My queries are the following:
- If the trend line is breached, don't you think that the WW has been invalidated?
- As per my understanding, if the price stays within the upper trend line, then we have to focus on the target drawn from point 1 through Point 4.
Please provide your justification for 5980. Thanks.