Short -term upward movement, consolidation or flag
Fake breakout above 18559 - negative signal but risky for entry
For more conformation signals, wait for a breakout below the consolidation but the stop loss will be higher.
For such a signal there a number of trading strategies: "specialists trap", " turtle soup", "peak trading". In all these strategies are based on a fake breakout and a return of the price below the resistance, in this case 18577
To minimize the risk, it is better to trade after a slight rise at levels around 18547 in order to use a smller stop
A better sell signal -after the current bar closes and the price goes below it's minimum. In this case we have a better signal but a higher stop loss.
I choose the first option because of the lower stop.
SL: 18577
Stefan D. Angelov - Head of Stocks Trading
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