One more breakout trade.

I decided to pick up another position around $422 since this is beginning to look like another bull flag. The breakout will probably bring us to around 490 before the real retrace, as I mentioned in my last idea.

After this follows through, watch volume on the retrace to see if it's a reversal or a bear trap. If the price bumps up against 480-500 and starts making lower highs with lower volume, get ready for another sell-off. Otherwise, it could just be a bear trap. In that case, look for another breakout.