PTON: Accumulation Phase Completed – Bullish Extension Ahead
PTON broke out of a bullish wedge pattern after a prolonged accumulation. It looks like the bulls are taking control of the price and we could be in the impulse wave C.
The recent price action forms a clear corrective structure, followed by a potential impulse leg to the upside.
A successful breakout above the pattern confirmed a continued bullish move, paving the way for the first resistance area around 9.10, followed by 10.20.
If momentum continues to build, the higher timeframe target remains near the 13.00 level, which is consistent with a large supply area and the previous market structure.
Let’s see if this is the right time for this big bullish move.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
PTON broke out of a bullish wedge pattern after a prolonged accumulation. It looks like the bulls are taking control of the price and we could be in the impulse wave C.
The recent price action forms a clear corrective structure, followed by a potential impulse leg to the upside.
A successful breakout above the pattern confirmed a continued bullish move, paving the way for the first resistance area around 9.10, followed by 10.20.
If momentum continues to build, the higher timeframe target remains near the 13.00 level, which is consistent with a large supply area and the previous market structure.
Let’s see if this is the right time for this big bullish move.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
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✅MY FREE Signals Channel
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.