Great news today. Technicals showing all, and most elegantly too.
We have a series of classical charting patterns at play here and it is looking very positive to me.
I entered on the head & shoulders breakout on the daily chart on Feb 21st.
We have today broken out on news from a pennant formation. Was a great opportunity to top up but
not having an alarm set here, I was too late for my liking.
The target for the pennant still has room to go but the neckline of the Larger inverse head and shoulders on
the weekly chart is currently being tested. A close above it will be very bullish. A small pullback from here also
possible but ultimately looks like another breakout is coming and I think it has a good chance of taking us back
to the highs over the next few weeks (Large head & shoulders breakout target of about 0.65). IMHO
Great risk reward ratios on these patterns, opportunities for tight stops. I will be looking to top up if that scenario
plays out but doesn't make sense to me to enter yet.
GLTAH
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