Been up since the crack of dawn taking a few points on this pair as it was ripe for an attempted break . . . far stronger than the previous attempt with the 100/200/400SMA (B/G/R) beginning to bunch indicating an imminent BALANCE to IMBALANCE moment as the BULLS try to break out.
Targets are academic today with the new channel and the 5 Day AvDaRa at 135 points +/- but it may get blasted through on a break out so only a temporary marker for the day. Beware . . . at some point it may well try a retest below to shake out weak hands and confirm BULLS in control again, so it's not a given just yet and PRICE at some point will have to do a retouch of the 10/20EMAs (Bk/R) . . . or they catch up either way.
GL :)
Targets are academic today with the new channel and the 5 Day AvDaRa at 135 points +/- but it may get blasted through on a break out so only a temporary marker for the day. Beware . . . at some point it may well try a retest below to shake out weak hands and confirm BULLS in control again, so it's not a given just yet and PRICE at some point will have to do a retouch of the 10/20EMAs (Bk/R) . . . or they catch up either way.
GL :)
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Logical targets if the BULLS stay in control . . . pull back to 38% and double the first leg takes it to the 114.5 area . . . round numbers are good for me and the previous H is also. PRICE tapped into the 10EMA as I write already so that box ticked . . . and off they go again although there are still some constraints to overcome and a couple more boxes to tick on the way.
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NB: the above arrows are NOT an indication of TIME . . . they are an indication of direction only and it could happen at US trade or later in Asia trade . . . or not at all in the next couple of days . . . but I have a suspicion it will unless it's TRUMPED back down :)
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Things are moving fast today !! . . . all it needed was a 25% pull back and a little flag pattern. Eventual target moved to the 19th H now. Here's a 30m chart followed by a 5 min if I'm allowed to put a 5m up . . . on the 5m is the regression channel that shows the bump and run course if it stays in the channel.
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5m not working sadly . . . :(