IR Chart Question


#1

I have a question regarding how to properly use the IR Chart. I understand it’s used primarily for finding levels at expected profit targets (purple target 1 and yellow target 2), however, in this example, would it be advised to NOT take a long position since the price action is already at the top yellow line? The expected move upwards has already been made and would be better and wait for a retracement back down, and then look for another long entry, etc? Thanks.