Weekly chart shows a down trend, followed by a sideways consolidation.
Daily chart shows the ascending triangle and the breakout, followed by a test of the resistance-turned-support at $1.445.
The breakout has been confirmed with GMMA.
Compression and crossover within long-term group has taken place.
Short-term group is above and well separated from the long-term group.
Short-term group has expanded widely and long-term group is starting to expand.
Outcome:
30 Jan: Opened LONG at $1.455
20 Feb: Closed at $1.640
Resaon for closing: A non-ideal Unique Three Mountain Top bearish reversal candlestick pattern formed on 17 Feb.
Stochastic oscillator is overbought and there has not been a meaningful retracement for almost two months.
The downside risk is now greater than upside potential.
Measuring objective for the breakout from the ascending triangle pattern has not been achieved, and will look to buy again on a retracement.
Profit $0.185, 12.7%
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