From the low in march we have been forming higher highs and higher lows (an upward trend). I am now looking for price to range a short while whilst it tries to determine if its going to break higher or have a pull back. The yellow triangle shown in point 1 is the area I am looking at.
If we get a break below the yellow triangle I will think about a possible short opportunity. If we break above it I think I will look to try and get long!
Buy above: 86.70
Sell below: 80.11 + (0.08 for each daily candle after today's' candle, this represents the incline of the trend line