FIL shows a nice symmetrical triangle and cup and handle pattern on long timeframes.
RSI is below 50 so it's in a downtrend. You can probably get an entry around 62.5 if you're patient.
Three possible entries:
1. on the downtrend, get the 62.5 entry, and TP1 at 70.
2. on the trend reversal, enter when RSI flips above 50 and trendline on RSI changes.
3. enter at 70 on the retest/confirmation of breakout.
Entry/pattern Invalidated if hits below 57.
Take profit on the way up, set the SL below the trend line depending on which entry you decide to make, and then set the TPs.
Move the SL up to 0% loss once it clears the targets and then patiently wait.
I've entered now and am patiently waiting for this to move.
RSI is below 50 so it's in a downtrend. You can probably get an entry around 62.5 if you're patient.
Three possible entries:
1. on the downtrend, get the 62.5 entry, and TP1 at 70.
2. on the trend reversal, enter when RSI flips above 50 and trendline on RSI changes.
3. enter at 70 on the retest/confirmation of breakout.
Entry/pattern Invalidated if hits below 57.
Take profit on the way up, set the SL below the trend line depending on which entry you decide to make, and then set the TPs.
Move the SL up to 0% loss once it clears the targets and then patiently wait.
I've entered now and am patiently waiting for this to move.