IPD chart, page-372

Hi Folks

Just thought I would do an update on the IDP weekly charts as they are showing more promise. See chart below. I 'll point out the good signals.

* Since the low of 0.033 in the week 2020 we have begun setting a series of higher highs and higher lows. This is bullish.

* We seemed to have formed a cup and handle chart pattern, with the left lip at 0.185 in the week 12 Apr 2020 and the right lip at 0.195 in the week 10 Oct 2021. Cup bottom was 0.096. Then we preceded to form the handle which is important to shake out loose holders as a set up into the next rise. Cup and handle patterns are very bullish.

* Other things to notice in the week 10 Oct 2021 the 10WMA (green line) crossed above the 40WMA (red line) , Bullish. Since then the10WMA is very steadily and the 40WMA has been making some gains as well (Bullish).

* Another signal is that in the same week 10 Oct the weekly hi-lo candle traded entirely above the 10WMA and for 13 weeks the weekly hi-lo candles has not traded entirely below the 10WMA (which I consider a bearish signal that this upward run has concluded). I ignore the candles that just cut across the 10WMA.

So the signs are good. What next?

So I had a look to the FIB's to set possible target zones upwards. I am using 0.096 (cup bottom) as the low and 0.195 (right lip) as the high , we then had the handle retrace down to 0.16 which was about a 34% retrace which is fairly standard. Next I am looking at extensions upwards Ext 23.6% = 0.215 and Ext 38.2% = 0.23.

So as long as the world markets behave, my first target zone range is 0.215 - 0.23 and I will not be surprised if it happens.

Just the way I deal with the markets so that I am not surprised by what plays out, as always DYOR

Here's hoping, Good luck folks.

Cheers Lies