Potential long set up

We've finally had a breakout of the diagonal price has been in for a couple of weeks.
Wait for a pullback or flag for a long entry set up

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Always wait for an entry set up before risking your money.

This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome

Good luck Steve

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We haven't had a correction yet so I would expect some sort of pullback to occur soon. We'll see how it develops but I have marked the 61.8 fib for reference. Depending on your strategy you may want to move stops close to protect profits and also give you an opportunity to stay in the trade in case it simply takes off without a correction. Alternately you could take profit and look for another opportunity to get back in after any correction.

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The above advice is for anyone who got into this trade at the bottom and now has profits to consider. If you are not in the trade yet then wait for a deep correction and entry set up before considering opening a position on this pair. Hope this helps

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We didn't get as big a pullback as I thought but there was still a nice move up. I'll post a new forecast chart shortly. This chart is finished