FIL - Familiar Breakout.. 🤓

٢٢ فبراير ٢٠٢٢

FIL is showing us a price action that looks really familiar. In 2020, we had a descending trendline (black) which broke out and then we had a minor descending correction (red) which lead to a double bottom before we had a bullish run.

Similarly, we have having exactly the same sequence of events. The next step based on past price action would be a breakout and a bullrun.

Trade idea:
- Watch for price to break out of the descending correction (red)
- enter with stops below the double bottom
- Targets: 114 - 200 - HODL the rest

Let us know what you think.

Goodluck!