3rd quartile of this well defined , and the Monthly PP (failing to reach the Yearly
PP) price has returned right back down.
The DC55 (11 week High/Low) has seen two false breakouts (in mid Nov and mid Dec ).
If a new low is created yet again, the difference will be that the top of the DC55 has been tested and
held resistance, which will give a strong bias to the next breakout if it happens.
Currently Monthly S1 has held support. Feb 10 there was also a Kumo Breakout Signal, which
adds to continuation bias.
Entry could be set to the channel low or a retest of 1203 low or lower Kumocloud.
Applying trendfollowing rules on a DC55 breakout, use 2 ATR20 SL
and trail it with 1ATR20. Pyramid Entries, equals the first in settings, every 1ATR20 move.
Maximum 5 total entries. Ideally, SL on entry orders should be modified with changing ATR20.
Riskmanagement if Pyramid positions use max 2% total risk exposure