CAT Bullish Weekly

On a weekly chart CAT is setting up nicely for a breakout move. It is in a tight consolidation range which Bill Williams refers to as the saddle point. I have highlighted the first bullish fractal . Will be setting my buy stop 2 ticks above that high. One could also put in a short entry on the fractal below the alligator . Either way this is a high probability setup.

My stops would be just below the alligator (blue line) for a low risk entry or as Williams says taking your trade in the low rent district LOL. My first target would be 50% retrace from the high of the sell off..
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