3. Indicator Analysis Weekly 50 SMA proved to be a strong indicator for breakout( bullish) RSI high coupled with strong vol (bullish) MACD looks healthy with buyer having a slight lead on seller.
4. Primary Trendline(Yellow) Analysis Past history have always showed a bounce off followed by a breakout
5. Candlestick Analysis We have a 4x green soldier coming along
Trading Plan 1. Medium Risk channel trade Entry: wait for a monthly close above primary trendline(Yellow) as weekly closure is not convincing enough for buyer and bb to enter SL: Monthly close below 1.17 TP(1):1.55 , anticipating a bounce off from channel
Remark: Expected to reach target at mid Feb 2021 S1:1.17 S2:0.67