ASB. Bought a couple shares.

I had this on my watchlist. It came to my area of interest, and it's showing signs that it may act as expected. There is plenty of good demand lower to set stops below, so my risk manager is satisfied. It's not a crazy R:R, but I'm coming to the understanding that giant R:R isn't as common in stocks as it is in forex or futures. I'm thinking same genus, but different species.

It might not work out, but this is the way I feel before all of my trades, so I'm learning that feeling uneasy about trades is not a great way to determine if they will succeed or fail.

The indicators aren't perfect, but my gut wants me to pounce, and I have denied it long enough for today. It has been a good gut.

Comment:

Nice work my billionaire minions! I have moved my stop loss to BE, and I have moved 1/3 of my position to take profits right around 22.

This flies in the face of the idea that you are supposed to scale in, not out, of a winning position. What can I say, I picked up some bad habits from dolts.

Also, you are supposed to only move stops to structures you find on the chart, not arbitrary numbers like where my BE is. But, I'm going to do it anyway. Sorry, Mom.

Comment:

I got stopped out near my entry. Maybe I made 65 cents I'm not sure. This is still a good looking chart. The consolidation is taking a little longer than Iike, but it looks like a new funnel is forming, and to my eyes it's bullish.

You could probably get away with a 23 buy call if you're ok being in front of the computer frequently and take the green when it comes.

These setups are difficult to take because the move out is so sudden, but I would bet the breakout is coming eventually to the up.