hugh.gill
Long

MLX inside bar's :)

ASX:MLX   METALS X LIMITED
MLX             is currently forming inside bars on the Weekly chart which will break in the coming days. Previously MLX             inside bars has broken bullish and have given back some nice gains. The potential for a BULL break is higher as MLX             is currently in strong uptrend and is currently on a previous support.

BULLISH INDICATORS
Weekly
Inside Bars in an uptrend (inside bars broke Bullish twice in the past)
Declining BEAR Volume on the Weekly (sign bears are running out of selling steam)
Currently defending Uptrend line and using as support .

Daily
MACD Crossed Bullish
RSI Forming higher low (even when price has dropped lower) IMAGE BELOW

4 hour
MACD Crossed Bullish

BUY = .85 (IF LUCKY)
STOP = .75 10% LOSS

TARGET 1 = .94
TARGET 2 = .985
TARGET 3 = 1.160

Il play this with travelling stop loss if we break Bullish .

DAILY RSI ( BULLISH )

Trade active: Bear break from the inside bars pattern.. Stop not reached yet trading still active. But Clear BEAR Break on this one..
Comment: Possible rebound at .74 cent next support.
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