'leap' of faith for further long

Last Friday's formation of 4H TF bullish sign is not convincing, however overall it went up well above the lower trend line and strong sign of recovery from previous day's sell off (Note: I already took profit on Friday at 79). it could be just Friday's TP but if it breaks 79.05 it may jump higher to form a new confirmed 4h uptrend which from the chart seems an easy job if not done already during the weekend. Just my cents.

If it goes downhill, I don't think it can easily break 78.5 as it's near the limit to break the weekly trend line up and a well formed demand base.

Yorum:

SL should be 78.889; TP can be higher but I need to learn to be not greedy.