-Daily price has formed a box consolidation between zones 86.1419 (resistance) & 79.7630 (Support)
-Price has touched these zones at least two times on each end (even witnessed a fake out)
-Price has broken out of consolidation area (forming a very unconvincing big shadow candlestick)
For the last kiss strategy to qualify:
-I would expect price to move away from the consolidation area in the next few days (trade will only qualify if market moves away clearly, if it returns straight away the trade will not qualify)
-Once price returns back to the consolidation box, wait for market to print a last-kiss candlestick on the edge of the box.
STOP LOSS: Slightly above support zone @ 81.0650
TARGET PRICE 1: 78.8650
TARGET PRICE 2: 75.6260
P.S Notice on February 11th 2016 price broke out and tested our 1st TP of 78.8650?
-Price has touched these zones at least two times on each end (even witnessed a fake out)
-Price has broken out of consolidation area (forming a very unconvincing big shadow candlestick)
For the last kiss strategy to qualify:
-I would expect price to move away from the consolidation area in the next few days (trade will only qualify if market moves away clearly, if it returns straight away the trade will not qualify)
-Once price returns back to the consolidation box, wait for market to print a last-kiss candlestick on the edge of the box.
STOP LOSS: Slightly above support zone @ 81.0650
TARGET PRICE 1: 78.8650
TARGET PRICE 2: 75.6260
P.S Notice on February 11th 2016 price broke out and tested our 1st TP of 78.8650?