While we have been watching the ascending triangle and clear signs of classic accumulation locally, there is a bigger story here.
The next phase of this wyckoff schematic would be the sign of strength. With the ascending triangle breakout here, id say we are en route.
The measured move expectation would be 2.58 with the range high at 2.58.
4.56-6.85 would be the upper targets historically above each level, and the would satisfy the measured move of the double bottom here.
You could expect consolidation at the top of the range when the SOS completes, and we would look for a partial decline at that level as well. A return to the top of the range thereafter would statistically favor a breakout to the upside and confirm higher targets.
The next phase of this wyckoff schematic would be the sign of strength. With the ascending triangle breakout here, id say we are en route.
The measured move expectation would be 2.58 with the range high at 2.58.
4.56-6.85 would be the upper targets historically above each level, and the would satisfy the measured move of the double bottom here.
You could expect consolidation at the top of the range when the SOS completes, and we would look for a partial decline at that level as well. A return to the top of the range thereafter would statistically favor a breakout to the upside and confirm higher targets.