XEL

Whatever happens, it ain't gonna go in a straight line so I'd wait for a retrace.

If the retrace forms a higher low then a higher high, enter long on the 123-low breakout.

If the retrace forms a higher low then a lower high, enter short on a break of the higher low.

If the retrace goes below 88.75p go short on that break.

There's no point chasing it now. It's put on 22p or 25% since 88.75p and the 61.8% Fib's nearby. It'll have to come back at some point (famous last words lol!)

H1 chart from Friday shows a clear 5 waves up...
At least that is impulsive
Like Jackozy says, get a retrace trade set up and wait for a great price to get in..
Just be mindful of the big resistance above. There will be plenty of a time to scale into a trade, so you could definitely start small and still make big gains....IF this gets going

I've taken a small and risky long on this due to the RSI trendline from the bullish divergence and 61.8% Fib of the last rise:



dl.dropboxusercontent.com/u/20815047/FTS...XELdaily13_06_13.gif

The reason I say this is risky is down to the form of the chart - it looks to have had 5 waves down followed by 3 waves up so it looks bearish hence my tight stop just below the 98p level.

uk.advfn.com/p.php?pid=chartscreenshotsh...BqjYvRqOAfGpCCcElJS+

Nice symmetrical triangle on this one. We did have a bounce off the 61.8% retracement level the other day but IMO we will likely find the triangle support next rather than a breakout north, so an entry around 95p would seem preferable but note that this eventuality brings the possibility of a full retracement to 88/89.

Note also that we have just completed a H&S formation (neckline in magenta on chart). This is flirting with a break currently which firms up a likely move south.

IMO wait for a break south and buy the trendline support with tight stops.

F4T

123 breakout today?

uk.advfn.com/p.php?pid=chartscreenshotsh...O+ez64dordEfiykUTY4=

Correct twl2009. Not only that but the H&S played out but failed to reach the support trendline. Currently testing resistance line and above all major MA's. Looks promising to me but it will need to close above the line.