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This chart depicts an inverse head-and-shoulders pattern, a bullish reversal signal, alongside a rising channel. Here’s a breakdown of the potential strategy based on the chart:

Key Observations:

1. Inverse Head and Shoulders:

Left Shoulder: Initial peak followed by a decline.

Head: Deeper low at "TOP 2."

Right Shoulder: Higher low compared to the head, signaling potential reversal.



2. Rising Channel:

Price is currently trending upward within a parallel channel.



3. Entry Zone:

Around $2,620.27 (highlighted area near the breakout of the neckline).



4. Targets:

First target: $2,658.13 (as marked).

Second target: Potential continuation above the rising channel if momentum holds.



5. Stop Loss:

Below $2,600.30 to mitigate downside risk in case of pattern failure.




Trading Idea:

Buy Entry: On a successful breakout above the neckline ($2,620.27) or upon retesting the lower end of the channel.

Take Profit: Scale out near $2,658.13 or higher.

Risk Management: Use a tight stop loss below the rising channel or neckline.


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