On the 4H chart of Flynas Co. (4264, TADAWUL), a potential bullish harmonic structure is forming, suggesting continuation to the upside. The pattern aligns with the classic ABCD completion, projecting towards the 85.0–87.0 range.
Pattern Formation:
The XA leg retracement shows a clean 0.936 retracement into point B.
The BC leg extends to 2.009, confirming harmonic alignment.
Point C sits around the 0.547 retracement of AB, creating symmetry.
Price Action Context:
Strong support is visible near 75.0, previously tested and held.
Ascending trendline from early September continues to guide price higher.
Break above 78.8 (current bid/ask zone) could act as a trigger for momentum.
Targets:
First target: 84.1 (local resistance / previous swing high).
Second target: 85.5–87.0 (completion of harmonic D and extended profit-taking zone).
Stop Loss:
Suggested below 75.0, as a clean break under this invalidates the structure and trendline support.
Summary:
If bullish momentum sustains above the current bid zone (78.7–78.8), the harmonic setup indicates upside potential into mid-80s. This trade idea remains valid as long as 75.0 support holds. Risk-to-reward remains favorable given the proximity to structure-based support and clear projected harmonic completion zone.
Pattern Formation:
The XA leg retracement shows a clean 0.936 retracement into point B.
The BC leg extends to 2.009, confirming harmonic alignment.
Point C sits around the 0.547 retracement of AB, creating symmetry.
Price Action Context:
Strong support is visible near 75.0, previously tested and held.
Ascending trendline from early September continues to guide price higher.
Break above 78.8 (current bid/ask zone) could act as a trigger for momentum.
Targets:
First target: 84.1 (local resistance / previous swing high).
Second target: 85.5–87.0 (completion of harmonic D and extended profit-taking zone).
Stop Loss:
Suggested below 75.0, as a clean break under this invalidates the structure and trendline support.
Summary:
If bullish momentum sustains above the current bid zone (78.7–78.8), the harmonic setup indicates upside potential into mid-80s. This trade idea remains valid as long as 75.0 support holds. Risk-to-reward remains favorable given the proximity to structure-based support and clear projected harmonic completion zone.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.