31 0 0
There is a lot of supporting aspects related to this setup, but don't bet the farm on any one trade, even perfect setups fail, money management is the most important variable to successful trading.

1. 50 ema > 200 ema
2. Tight trading range from 2/2014 to 11/2014, followed by a strong breakout confirmed with increase in OBV
3. During trading range we had accumulation divergences (twice) between OBV and price
4. Smaller tail against resistance becomes support level (2 prior reactions at this level and congestion prior to breakout = level is respected), followed by 4 inside bars, unable to make new low
5. Bull Flag pattern
6. Pullback into potential reversal zone (between 50 & 200 ema )
7. Pullback between 0.5 and 0.618 fib retracement level
8. Lower Low in flag without lower lows in stochastic or OBV
9. Absence of supply on pullback on OBV

Conclusion: Strong demand in background, with continuation pattern into strong previous resistance and fib level with volume confirmation.

1. R:R 1:3.88, valid if minor support holds to initial target of prior high, the R:R could increase if trade pushes up and a runner is held to AB=CD and fib extension levels
2. R:R 1:1.61, if minor support fails, then major support level is used with a target at AB=CD
3. R:R 1:2.52, major support to fib extension level

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