A break of this trendline was attempted in early April which failed but gave way to a higher low. It is showing strength relative to the overall market. Odds of breaking up has increased.
Looking to Long if it breaks above the trendline resistance @ 175.50 with initial stop loss @ 167.5
With market so volatile I would prefer to cut losses fast if trade does not pan out quickly.
If trade goes our way I will scale out partially @ 191 and then 207 (fib extensions of the AB swing up)
Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important!
Looking to Long if it breaks above the trendline resistance @ 175.50 with initial stop loss @ 167.5
With market so volatile I would prefer to cut losses fast if trade does not pan out quickly.
If trade goes our way I will scale out partially @ 191 and then 207 (fib extensions of the AB swing up)
Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important!