ASX:MYX   MAYNE PHARMA GROUP LIMITED
-19 Week Ascending triangle
-Weekly bollinger band squeeze
-Daily bollinger band expansion
-Breakout volume on the daily

30 basis points of risk
Was not anticipating this trade as it was on my developing patterns list, not my breakout list but got an alert 10mins before the close
A lot of good confirmatory signals
Trade active: Long @ 0.8125
SL @ 0.775
TP @ 0.9750
Comment: Tapped breakout day candle today.
I am always eager to get my stop to break even as fast as possible but patience must be exercised.
At any rate, that will make a nice level to move my stop to if the upside resumes tomorrow
Comment: Stop at entry 0.810
Comment: 3-day trailing stop rule in effect @ 0.880
Trade closed: stop reached: Out on the open, looks like this trend is on its way up without me
Small win
Comment: Chart pattern measured move met... without me, should have been watching closer for entry on this small ascending triangle

Comments

well done. got that right.. im in the money now.
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TomKirk miltonmoney
@miltonmoney, Congrats. Not with you due to my tight AF risk management:(
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In as well at 0.835! Going to keep an eye on it's run though and hold so long as above 200 day ema, as part of a longer play. Thoughts?
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TomKirk duncs1981
@duncs1981, My trend follow model is a "2 day away rule" as outlined by Richard W. Schabacker in his book "Technical analysis and stock market profits" (pg 368) but if its a tested method you have utilized in the past then why not:)
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gr8 call, well done
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TomKirk nfury8
@nfury8, Thank you
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