VRX trade ideas
VRX.ASX Possible repeating patternI'm not so certain of this set up, but I'm keeping a close eye on it still. There is a large triangle that has formed in the price action which within it is playing through a series of peaks and troughs. If the cycle series is correct we could expect to see a bump in the next few days. The 200 day moving average was just crossed and now after hit a resistance level at 0.115 the price is reverting. possible that the price could pull back to 0.100 at the dotted line before it moves up again. I wouldn't expect it to go to the trend line again. If so, I would say that the repeating pattern has been made void. however as further confirmation we have a pickup in the volume to confirm the pattern so I think this could be a good trade. I believe that i will leave a stop at 0.100 and use an upper target of 0.165 and a lower target of 0.155.
