A close above 37 would suggest a strong buy. we also have a potential D-leg completion that supports that the SHS-pattern bullish move. However we were just rejected by the SHS-patterns neckline and there is not a lot of resistance toward 30. I will be looking for support confirmation @30 for a buy
Comment:
It looks like the price has found support in the bullish trend channel, so an entry around this is more likely that at 30. We also have an ascending triangle that confirms the channel and suggest long. A breakout of the resistance confirms the SHS neckline. a small Cypher suggest a small retracement towards the support of the channel. If we see a breakout of the support channel, I would look for entry at 30, if a break of resistance above 37 I would entry there. Alternate place half you investment at support channel, and wait for the other entries.
Comment:
..also there is an possible AB=CD pattern that suggest a break above 37
Trade active:
I took a chance and entered at 36.30
Comment:
Wait for a small retracement to around 40, then get in on the ride.