WESFARMERS LIMITED
Long
Updated

Wesfarmers continuation of huge horizontal zone breakout

90
-66 Month Horizontal range primary pattern
-Measured move up to 57.31
-8 Day pennant with horizontal boundary completion on friday close
-50SMA peeling away from 200SMA

30 basis points
Will enter only with limit order to retain a favorable R/R
Note
Limit buy order @ 50.55
SL @ 49.60
TP @ 57.25
Note
Filled @ 50.20 on the open
Note
Correction, 50.02 fill
Note
Only 13.5 basis points of risk with that fill. If close is above Friday's high, will add another 16.5 basis points of risk
Note
Will not pyramid based on existing pattern
Trade closed: stop reached
Stopped out
snapshot

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