The Australian Stock Market index is looking very bullish, due to the double top pattern forming on the lower timeframes. The higher timeframes also signify a rally, which sets the mood for this trading signal. I would wait to see how rice would react to the 61.50 level, which represents an institutional level, and was also tested previously Then an entry would be made after this retest. Do note that the price may not retest that far as it all depends on the buying pressure. The 200 EMA is currently moving below the price in the lower timeframes, which also prepares us for buy positions. I would expect the price to rally further with the target being the height of the "W" pattern.