-4 Week rectangle developing -Gun to my head, I would say I have a long bias. Ideally, I would like to see another 2 weeks within this range to give conviction to a buy or sell
Reasons to go long -Trend is up -Consolidation is taking place above November 2017 high
Reasons to go short -One day out of line movement on the 19th July -A rounding abbreviation of the high open/close of preceding candles -Potential to be the right shoulder of a 37 week thus far H&S, However is a little abstract
Will monitor into the week and take a position on a daily close outside boundary and if R/R is above 3/1 20 to 30 basis points of risk planned