Wesfarmers take 2# long
Updated
-Primary pattern is a 66 month horizontal range
-Of which as an unmet target of 57.31
-8 day pennant in which I tried the long side of has morphed into a 5 week flag with well defined boundaries
-Tight bollinger band squeeze on the daily
-An attractive R/R
30 basis points of risk planned
-Of which as an unmet target of 57.31
-8 day pennant in which I tried the long side of has morphed into a 5 week flag with well defined boundaries
-Tight bollinger band squeeze on the daily
-An attractive R/R
30 basis points of risk planned
Note
Big pictureNote
Stop buy @ 50.51SL @ 49.70
TP @ 57.17
Note
Stop @ 49.76 prior days low.Breaking out now but on open 'retail' volume. Still keeping my buy stop above July high as I need that extra conviction for this trade
Trade active
Order filledNote
One of my pet hates is when price plumbs my order in the morning then turns down. It is not a detractor from the setup but always makes me tense to see if price will turn up short of my stopNote
Am somewhat more at ease after today, Still dubiousTrade closed: stop reached
I was wrong wrong wrong
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