$DE Breaking Out of Flat Base?I went long NYSE:DE on Mar 5th after it bounced right back over the 50 DMA (red). It had been choppy, so I waited to add to the position until today. Why today? If you look you can see the pattern of the candles kept getting tighter and consolidating around the shorter term EMAs. I had drawn in what felt to me to be a resemblance of a flat base pattern. It broke above that with conviction this morning, so I have added to bring up to a full-size position.
My stop on the added portion will be just below the LOD and the remaining stop has been moved up to the most recent higher low.
If you like this idea, please make sure it fits with your trading plan. These are simply my ideas.