Structural bottom looks like it's in place. Good risk/reward.
Update 4/24: Adding to my position at 16.82
Comment:
Trade Reflection
Target Hit: First one yes.
Target Trailed, why: No
Stop Hit: Yes after first target reached
Signal for entry: Convergence toward pennant
Trend continuation post stop breach: Broke down intensely with two flashes on the weekly.
Risk/Reward: 1:2
Poor Stop Placement: No, although adjustment is definitely needed. Stop needed to be raised to at least 14
Risk %: 7%
Reward %: 13.7%
Fundamental overlay: no
Would you take the trade today? What would you do differently?: Stop would definitely be adjusted on the second entry (breakout entry) at 14.7. Would not have initiated a second entry long since the breakout was too minor and didn't offer enough structure for a retracement pause.
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Target Hit: First one yes.
Target Trailed, why: No
Stop Hit: Yes after first target reached
Signal for entry: Convergence toward pennant
Trend continuation post stop breach: Broke down intensely with two flashes on the weekly.
Risk/Reward: 1:2
Poor Stop Placement: No, although adjustment is definitely needed. Stop needed to be raised to at least 14
Risk %: 7%
Reward %: 13.7%
Fundamental overlay: no
Would you take the trade today? What would you do differently?: Stop would definitely be adjusted on the second entry (breakout entry) at 14.7. Would not have initiated a second entry long since the breakout was too minor and didn't offer enough structure for a retracement pause.