Long
CHSB - waiting for a breakout
CHSB broke the trendline from the 17th April upwards.
But seems to have found support around the .50 re-trace. If that fails, then i suspect we will test the 1.20 zone again. if we fall back to there might be a good place to open a long position if we bounce well of that line.
What I am looking for however is a break out of the current resistance line, we break out on the 4hr and confirm support there on a lower time frame (1hour, also possible lookingg at the 15 minutes to see what the bulls are up to). I will look to take a trade then and expect we'll head back to the 1.55 zone where i'll take some profit.
Breaking out of the 1.55 zone, i expect we'll head straight to $2.00 rather quickly
But seems to have found support around the .50 re-trace. If that fails, then i suspect we will test the 1.20 zone again. if we fall back to there might be a good place to open a long position if we bounce well of that line.
What I am looking for however is a break out of the current resistance line, we break out on the 4hr and confirm support there on a lower time frame (1hour, also possible lookingg at the 15 minutes to see what the bulls are up to). I will look to take a trade then and expect we'll head back to the 1.55 zone where i'll take some profit.
Breaking out of the 1.55 zone, i expect we'll head straight to $2.00 rather quickly
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