We have an inverse head & shoulders breakout on the daily. We might still be in a down trend, however there is still more room to the upside from this breakout. I feel like if we were to pullback and re-test the breakout area, we would already have done so. But prices have been holding rather steady at this higher level.
Target is at 7920 (8000 is key resistance in my opinion and could be the point where the downtrend resumes)
Stop is at 7274
Trade closed: stop reached
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Moved up stop to 7423 when it broke out. Stop got hit on the failed breakout
Trade active
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Testing another entry here. This breakout seems to work better so far.