Description
⋅ FLDM has shown a break out in the wedge pattern.
The upper trendline which used to be resistance can now become the lower trendline functioning as support.
We also see a pull back to the support trendline (previous upper trendline) in the form of a bull flag pattern.
I identified nearby resistance level at 8,30 (which you can find on the monthly chart). Price bounced back from that level in 2015 and 2016.
I will enter this trade at 7,60.
My profit target is 8,30.
My stop loss is 7,39.
Happy trading!