Wesfarmers continuation of huge horizontal zone breakout
-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
-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
Comment:
Filled @ 50.20 on the open
Comment:
Correction, 50.02 fill
Comment:
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
Comment:
Will not pyramid based on existing pattern
Trade closed: stop reached:
Stopped out
SL @ 49.60
TP @ 57.25