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Vuvuzela Pattern for the JSE ALSI 40 target to blow up to 75000

Well, well, well, we've identified the tumultuous and monotonous pattern on the chart finally.

It's known as a Broadening Triangle or what I call a Vuvuzela Formation.

The price diverges instead of converges in a triangle pattern...

Now this can be a continuation or a reversal pattern. It all depends on the breakout.

Looking at the D&S and liquidity it looks like the JSE really wants to break above the formation and head to new highs of the year.

75,000 is a decent first target...

Also with Smart Money Concepts we can see there is a Sell Side Liquidity Order Block showing how Smart Money is sweeping selling and buying into it, hence there isn't a major push down in price just yet...

I'm bullish with this Vuvuzela. Now we need the JSE to blow up.

Timonrosso

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Timon Rossolimos
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(Pro trader since 2003)

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Timonrosso