Imperial Tobacco

That's the problem with trying to catch the breakouts....it can whip saw you in and out.
The trend line is still intact.

This move could be some kind of A B C, wave 2 correction, with A & C being equal legs (blue rectangle),
so maybe a bounce of the 2300 area that is 76.4 fib.

dl.dropbox.com/u/43650856/IMP%20Tobacco%...20-%2030th%20Jan.htm

Confirmed break of trendline and a possible inside bar forming today

Breakout on Weekly Chart - Looking Strong



Daily chart I H&S with a slightly upward sloping Neck Line


I am already long on this. My initial entry was @ 2308 and SL was below 2275. SL is moved to profit and its a free trade.
I will add to my Long position if it goes down to 2335 to fill the GAP.

I missed this yesterday... due to being busy...
broke out nicely...
from the tips section for this week


dl.dropboxusercontent.com/u/4899609/imt18thjuly.png

This is currently back testing the breakout point.
A good shorting area will be the gap fill area. Based on a window it will be 2241.I prefer my own way which is the gap fill at 2253.This is where it gapped down from.
Stop should be above 2270.

dl.dropboxusercontent.com/u/4899609/imt23rdjuly.png