Falling Wedge Breakout + Drill News Surge — Eyes on $0.855 PivotBroken Hill Mines LimitedASX_DLY:BHMSoloTraderAU🎯 BHM.AX: Falling Wedge Breakout Driven by Pinnacles Drill Intercepts ⛏️ Broken Hill Mines Ltd (BHM.AX) has staged a massive +12.4% intraday breakout, cracking the upper resistance line of a multi-month Falling Wedge pattern following high-grade silver-lead-zinc intercepts from its Pinnacles Phase 2 drilling program. While news-driven momentum is strong, price is now approaching a critical structural pivot at $0.855 (previous major swing lows). Patience is required to confirm a clean daily close above this level. 🔑 Technical & Fibonacci Confluences Structural Wedge Reversal: Price has broken out of the descending compression channel between $1.160 and $0.515, backed by daily Break of Structure (BOS) signals. Fibonacci Target Confluence: Base Breakout Pivot: $0.840 – $0.855 0.618 Retracement Target: $0.920 127.2% Fib Extension Target: $1.130 (Confluences with the major historical supply node at $1.160). 161.8% Fib Extension Target: $1.240 Indicator Confirmation: VectorVest DEW system shows an active BUY ("B") signal with price holding firmly above the 30-day WMA (~$0.700). MACD histogram is expanding steadily into positive territory. 📊 Tactical Execution Scenarios ================================================== VERDICT: Bullish Trend Shift — Wait for Confirmation 🔵 Scenario A (Breakout Entry): Wait for a daily close above $0.855 to confirm supply absorption before targeting higher Fib extension levels. 🟢 Scenario B (Pullback Entry): Look for a controlled retest of broken wedge resistance around $0.750 – $0.770. 🛑 Risk Management: Stop-Loss: $0.690 (Below 30 WMA & 0.382 Fib at $0.715) Target 1: $0.920 Target 2: $1.130 (127.2% Fib Extension) Target 3: $1.240 (161.8% Fib Extension) ⚠️ What Makes This Trade Wrong? (Invalidation) A daily rejection at $0.855 resulting in a daily close below $0.690 invalidates the breakout structure, returning price to the wedge consolidation zone. 💡 Note: Never FOMO buy directly into overhead structural resistance! Let price confirm a daily close above $0.855 or catch the retest at $0.770 for an optimal Risk/Reward ratio. Capital preservation first!