SXX Approaching 123 Low Breakout

Was looking ok earlier on today, but was a disappointing close. Oh well, guess we'll have to wait to see where we open on Tuesday after bank holiday.

Have a good weekend all.

Kumo breakout as well Count so lets wish for a push up today


www.screencast.com/t/ptBC10r1q7ao

Yes I agree SRB. There may be several influencing factors holding this back atm including:
1. Project planning approval not yet given, (expected in next few months but no firm date). I expect once approval is given this will really take off.
2. Other share action happening elsewhere drawing PI attention, eg GKP, XEL, TPET
3. The large rise in SP of 21st pushed RSI >70 so today was cooling a bit prior to next push up ')

It is still possible that this can complete the 123 low but I am watching it closely with tight stop in place.
I hope this moves upward again today with decent volume.

ATB

Not liking the book at the mo and although were showing high bid volume the blocker orders at 12.50 and the large sells going through are causing the lack of oompfff that we need to propel this upwards, need to watch this over the next few sessions.


www.screencast.com/t/4w3N68Gx

Well done Count, having traded sxx before and with planning news looming June/July I would expect the MM's to make a move on this very shortly and this breakout if confirmed tonight might be the start of something a tad better than 14.50. I'm not wanting to try and change your trading strategy as Im all for taking a profit but a keen eye and a rising stop loss might be the trade here, well that's what Im going for as 20/25 would not be such a far off target especially if the volumes pick up, anyway tight lines.

SRB

Break out this morning. I'd bought some previously at 11.6 so just sold half of them at 12.55p, letting the other half ride to see if it reaches 123 low target of 14.5p. May sell sooner though depending on how strong or weak it looks. Learn't from previous mistakes that it's best to sell sooner and take profit rather than trying to be too greedy and ride it too long and get 'locked out' when significant selling begins.
Thanks for original heads up on this SRB