Double CY Pattern

2024年9月2日

I've been following these two patterns for several days. Initially, I anticipated a new upward impulse to reach a daily closing price of 65,300, but that hasn't materialized. Nevertheless, I believe the CY pattern remains valid. I'm currently monitoring the price to see if it will test the resistance level above. A positive reaction could lead to a significant five-wave impulse, potentially breaking the all-time high. If not, I'll focus on identifying the next support levels for a potential downside move. When trading these patterns, it's advisable to wait for swing patterns and set stop-losses below to manage risk effectively.

Consider setting alerts for 54,000 and 55,000. There are still two untapped daily closing prices that could serve as potential support levels as well.