[isatrader]

Was also tempted by Cocoa with it's nice "W" bottom formation but the higher near term resistance level did n't offer a good enough R2R. I think the nearest resistance level is just about blown through so may not be much of a hindrance.

It's cleared the weekly ichimuko cloud, so suggests the resistance is old enough to only be a technical level to watch.

NIB is an ETN to trade it on the US market, and at current levels would give around 3.5x ATR risk to stop loss, so a pullback entry might be a better option to get a better stop distance imo. I've also attached a 2% box size PnF chart with the price by volume on so you can see the strength of the resistance, which it's looks to have cleared the bulk of which came in below 33 on NIB.