Yes the Gap at 1.305 was closed. So I have included a basic...

Yes the Gap at 1.305 was closed. So I have included a basic chart update:



- The orange circle is the Gap which is technically covered as the high on April 11 was 1.305. Today we touched 1.305.
- Momentum indicators in RSI and Macd are still not overbought and there is room to move much further.
- The uptrend channel (yellow highlight) since the breakout (blue highlight) in which the lower band is potentially the main support of Wave 3. It doesn’t need to re-enter this channel now but it is an important line that needs to act as support and at the right gradient for a substantial move and support up.
- Ideally, we do not re- enter the yellow channel and we hover around the bollinger upper band and track the upper line of the channel. We closed on that today.
- What I hope happens tomorrow is to hold above that upper line of the yellow highlighted channel and not re-enter the channel. Re-entering is not an issue, but it just adds extra layer of resistance to work through.
- we have horizontal resistance around the 1.40 levels. The urgency of the buying or consolidation above the channel will set it up to a nice retest of 1.42