[Summerset]

You are both Welcome.

The retraction to 4070-4120 levels however, has been negated by price action this week. The Weekly double top has clearly broken upwards on the weekly (see Chart). And provided Febuary's candle closes a hammer (see monthly chart), the route to 1.6780 is now open. (2.618) of the monthly corrective swing.

The Call to 1.6820 will be concluded this year.

Double top breakouts project same targets regardless the breakout is upwards or downwards. The projected target for the current breakout is 1.53

We will await conclusion of the Febuary monthly candle, and begin buying into the TREND on minor retracments, and using buy stops above recorded highs as of next week.

The buy stops can be hedged by shorts, if mild retracments deepen beyound intraday pre-calculated lower breakout levels.

Examples of how this hedging works are posted on post 88 / pp-11, posts 91&92 / pp-12, And post 97 / pp-13 all in this thread.

To avoid prolonged calculations, there is now a simple indicator available to auto calculate the levels, allowing the trader to follow the TREND and hedge on reverse breakouts. If anyone is interested, I can post it on the thread too.