Its a nice Bullish Pattern
, however from mid February the uptrend is steep ! The same uptrend can be seen from the 2nd of November 2015, resulting in a 65% retracement, which began to form the weekly Trendline
Support. The difference this time is we are at a stronger Resistance area
. (grey shaded horizontal) A Pullback in inevitable, and my idea is that it will be around this Resistance area
. A break above is a Buy signal, as is a Pullback to the Trendline
support. A Break & Hold below the TLS
on the Daily could suggest more Downside is on the cards. I will be waiting for the Breakout or the Pullback before i get in Long..