Ok, so there was a breakout for Tony alone, and it was huge, and it was to the upside! Oh dear, but hey it only went as far as the weekly pivot which it had been missing earlier and now it has printed a large reversal pattern and is coming out of overbought on the 1hr 9,3,3 stochastic so I am in short and wanting to hold it to the bottom of the box. Yippon and Cable are still messing around, and will breakout eventually and I do favour shortside, but they are being difficult, quelle surprise.
4Hr chart showing this weeks weekly pivot point hit. Amazing how they often tag this indicator with one or two pips to spare and then carry on their merry way. It often offers some explanation for those 'random' spikes you see (note the 19 Jan WPP tagged below). You could almost create a trading plan around that phenomenon. Of course, now I have said that the pair will power on up through it!
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