Hi ab7
Good charts on RIO.
Thought I would do the same since I went and had a look.
On the daily a nice break out of the cloud and now in a trending pattern with a bull future cloud. Ideal looking trade. I don't see it coming down to 48 unless it tests the cloud.
I have draw your lines and added 48.00
On the weekly again your lines and note the my red and blue lines are doing this for me. The cross of your lines will also be a cross of the red and blue. This is considered a weak bull signal. If it can rally past blue then the cloud is the next target.
On the monthly I find your 48.00 buy in point. The flat green line of the cloud where sp is is at 48.00. Rallying past this line would continue the trending on the daily.
This is a good example of the advantages of comparing different t/f's.
Overall a good looking set up for the future.
