Based on price closing back above the Donchian Mid-Point (27) and the weekly FIB points drawn from the highest point back in Feb 2018. First target 12800 approx which is the 76% Fib point on the weekly retrace. There may be some selling at this point but I do think it will reach 13200. My idea is to BUY whilst the candles are blue and they remain above the Donchian mid-point. Close deal if they turn red. The idea is to trade with the trend and by using Heikin-Ashi candles, this will help smooth out the bumps.
Comment:
Might even reach 13430 so keep to the plan described.
Comment:
Price has stalled but not to worry. We have a long term target and can re-enter when it gets on the move again.