W Breakout bullish price target!

So we seemed to be in an upward parallel channel, which unfortunately broke to the downside,

We wicked slightly lower than the measured move price target and have recovered quite nicely since then.

What we now see forming is a W pattern.... If we can stay above the neckline of the W pattern the given upper price target will be very likely

however if we fail to hold the neckline further analysis will need to be done to define a new pattern and see where we go from there on out.