HD
with a strong descending triangle pattern on the 4hr. I am looking for a breakout above the resistance trend line and using the previous 3 supply zones (where HD previously tested the downward trend) as points of TP/continuation confirmation. While I anticipate a bullish breakout, it should be noted that a breakdown below 260 on the demand base has significant room to the downside. I would be very surprised if we actually see a break below this demand, but could see us testing again before making a breakout push. If we do test the 260-265 demand again, there appears to be great value in playing a bullish bounce off 265.
