1) RSI needs to cross above 40 2) CCI needs to cross above general bullish trend 3) MACD signal cross 4) Very ST double bottom (A&B) and/or slight divergence 5) I generally follow DanskeBank, they were long at 171.1, aiming for 174,85, with stop at 172.4 6) I recently started following ScotiaBank's weekly COT, they showed general bullish on GBP 7) Lastly, this seems like a good P&L Ratio with the support/resistance lines (Red)
Probably will start removing some of the older trend lines pretty soon.
Comments
mustard
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As expected, retesting that previous resistance level at 172.52 now.
Ciba
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Looking at Chart as of 3PM PST, tight STOP to BE
mustard
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I have this on my watch list as a potential breakout long on my weekly chart.
There is an ascending triangle formation on the chart and these normally break to the upside.
My H4 chart suggests a 3-wave bull move may be in progress and we could well be on the 3rd wave, but I would have expected to see a retest of previous resistance at 172.52 first.
If the break above 174.83 does occur then my target would be around 180.00