Long DJACF on trendline break and back test. Ive been watching this pattern and thought we may get more downside off channel top due to sector weakness but risk reward presented itself. keep positions small due to minute volume normally traded in this stock.
target $3.13
Stop $ 2.17
Profit 36%
Stop loss - 3%
Stops are tight due to low volume on the reactionary bounce, lack of volume follow through on break out and bearish rising wedge on smaller time frame. (1hr) but risk reward is safe entry. Low volume on rise but bullish bars show above volume for move so small positive sign.
target $3.13
Stop $ 2.17
Profit 36%
Stop loss - 3%
Stops are tight due to low volume on the reactionary bounce, lack of volume follow through on break out and bearish rising wedge on smaller time frame. (1hr) but risk reward is safe entry. Low volume on rise but bullish bars show above volume for move so small positive sign.
Comment:
Another way to view pattern for bullish bias.
Trade closed manually:
Trade closed , Dont like the close of candle. Took the stop loss early.