Break out imminent?

Keep an eye on this one it looks likely to put in a nice correction some time soon. Look at the divergence on MACD
Remember we are looking for a break of the channel and a flag or correction below the breakout for confirmation before entering.

Alternately you could wait for the short move to complete and look for a long entry.

Forecasts will be updated as they develop so remember to follow to receive them. You can also follow updates via twitter (link via my TV profile)

Always wait for an entry set up before risking your money.

This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome

Good luck Steve

Comment:

Price has moved up to the channel top - It should come back down from there.
If we get a short entry set up it might be worth taking a punt with in the channel

Comment:

Still waiting for a short trade

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Waiting for a breakout - it will come sooner or later

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We've had a breakout - now wait for an short entry set up.

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Here we go - if you missed it wait for a correction to enter

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Given the extent of the impulse this is still a very small correction. I expect this has much more downside to it

Comment:

OK so far so good. I'm looking for a long trade now