Xstrata

RC any value in the trendline I've drawn here on the daily? I'd feel happier if it broke that or to short from the higher blue line?

Would appreciate your views

screencast.com/t/gtsmkvA2J

Shotry
heres a few charts to explain
1. my entry was based on a break below 1104 and the horizontal trendline as shown below


2. black trendline on your chart is quite far away on my chart


3. you can wait till it goes up to your blue trendline & it will give you an excellent R:R
but to do that it has to bounce more than 61.8% fib from where it is now!

Thanks RC, will look in more detail at that trade. I've not yet entered it.

Stopped out

I liked the rationale for entering the trade RC adn the we still have the lower lows and the lower highs so isn't the trade still viable as long we don't put in price over 165 (previous high on daily)?

I was watching for an entry , but have not yet entered it.

yeah ideally SL should have been above previous high but that was too far away for my liking...doh
you win some and you loose some