Yeah, dfer, agree on the timeframes, mate. The longer they are the more reliable they are.
What I see from the weekly view was some solid consolidation around .07, and the pennant is there - channelling down a bit, which is what you'd expect in a textbook.
The long kangaroo tails on the weekly at .067 gives it the support it needs for the next leg up.
The 5M/21M MA cross, after two and a half years of wallowing under 5c is a strong signal (and fully in line with our timeframes significance).
Go well
BTW - I was referring to the August monthly pattern not being complete - it still has another week and a bit to run.
Cheers.
chart - breakout imminent?, page-7
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