Imperial Tobacco

Breakout on Weekly Chart - Looking Strong



Daily chart I H&S with a slightly upward sloping Neck Line


I am already long on this. My initial entry was @ 2308 and SL was below 2275. SL is moved to profit and its a free trade.
I will add to my Long position if it goes down to 2335 to fill the GAP.

Confirmed break of trendline and a possible inside bar forming today

This move could be some kind of A B C, wave 2 correction, with A & C being equal legs (blue rectangle),
so maybe a bounce of the 2300 area that is 76.4 fib.

dl.dropbox.com/u/43650856/IMP%20Tobacco%...20-%2030th%20Jan.htm

That's the problem with trying to catch the breakouts....it can whip saw you in and out.
The trend line is still intact.

Imperial Tobacco, Long or Short?

There was only one way to find out…. FIGHT!

Seems Long / uptrend won!

This trading lark!

Remo - wouldnt the half way mark or the maruzubo line be a good place to short this? So i mean, allow this to move up another 50 points or so before getting your bazooka out and short it?
Just a thought since today we have a long red candle and it has the tendency to go up and retest..at 2370 or so?