After the breakout of consolidation I mentioned in my previous post https://uk.tradingview.com/chart/BUR/YTm79qZZ-Burford-Capital-finally-BREAKS-OUT/ that I will wait for the next breakout before entering.
The reason for this was to make sure the breakout was not a fake breakout.
We now have another breakout but the pullback only lasted for one bar. We would prefer to see a deeper pullback ( ).
Another reason for not entering this trade yet is due to the FTSE 100 TVC:UKX breaking below a strong area of resistance yesterday.
What we would like to see now is for the FTSE 100 returning back above the to ensure we still have strength in the market.
Keep this stock on your watchlist and more updates will follow.
Any comments or questions, do not hesitate to leave them below.