CF INDUSTRIES - LINE STUDIES - LONG - WEDGE - BREAKOUT

#CF - CF INDUSTRIES HOLDINGS - WITH A QUICK LINE STUDY OF CF WE CAN SEE THERE IS A NICE WEDGE FORMING WE ARE AT A STRONG AREA OF RISING SUPPORT AND WITH A GOOD BUY SIGNAL FROM TENKAN / KIJUN SEN CROSS ON THE 4 HR FRAME WILL BE ENTERING LONG LOOKING TO GET ANOTHER TOUCH ON THAT TOP SIDE.

COULD BE LOOKING FOR A BREAK HERE AS WE ARE LAGGING BEHIND SECTOR AND MAY BE TIME TO PICK UP A GEAR BUT IT DOES LOOK LIKE THERE MIGHT BE POSSIBLE LEG DOWN BEFORE THE BREAK

LOOKING AT THE WEEKLY THERE IS A STRONG AREA OF SUP / RES AROUND 47.99 WHICH IS ALSO EXACTLY A 50% RETRACE FROM FIB HIGH TO LOW THIS COULD BE OUR TARGET WHERE SECTOR ALSO LOOKS TO BE GROUNDING SUPPORT

Comment:

ANY VIEWS OR THOUGHTS ALWAYS APPRECIATED THANKS

Trade active:

Playing the consolidation for that touch on the top triangle (not the break)

Comment:

Think we could have a real nice break on this when it breaks volume momentum is building up nicely and the negative volume is looking to cross back up across the ema on the break plenty to be had out of this in my view :)