Short term breakout on daily + trend line support in weekly draws my attention to a sharp rally scenario.
Elements of this trade requires: - 6.42 breakout & hold (previous high) - 50% RSI + SMII cross.
Primary targets are 1 & 2 fibonacci retracements, certainly hitting trend line, secondary targets are a & b.
If this breaks out strong it wil certainly fill the gap, make the fib retracement price level 1, and this is 82% ish from here.
Cheers!
Elements of this trade requires: - 6.42 breakout & hold (previous high) - 50% RSI + SMII cross.
Primary targets are 1 & 2 fibonacci retracements, certainly hitting trend line, secondary targets are a & b.
If this breaks out strong it wil certainly fill the gap, make the fib retracement price level 1, and this is 82% ish from here.
Cheers!